Jul 8, 2026 – 4.00pmSpaceX failed to launch on its first day in the Nasdaq 100 Index as the share price tumbled back to within touching distance of its IPO price, with one money manager warning that retail investors who jumped on its Wall Street debut should be “sweating”.Plato Investment Management’s Dave Allen, who sold his entire stake on day three, went as far as labelling SpaceX a “meme stock” given the violent price swings, while rival hedge fund manager, Minotaur Capital’s Thomas Rice, has already built a short position.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
SpaceX investors ‘should be sweating’ as hedge funds circle the stock
Plato’s Dave Allen warns the world’s hottest company has the valuation of a meme stock, while Minotaur’s Thomas Rice has already started shorting the shares.
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