Jul 27, 2026 – 4.00pmLocal retail investors can’t get enough of Elon Musk’s rockets and artificial intelligence company SpaceX, buying up stock even as institutional shareholders sell out, and the stock falls below its offer price.SpaceX’s share price surged 50 per cent in its first three sessions as investors clamoured to buy whatever stock was available, peaking near $US202, before falling below $US111, or 18 per cent below its IPO price, last week.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Retail investors stock up on Musk’s SpaceX as fund managers sell out
The billionaire businessman’s rockets and artificial intelligence firm is trading well below its IPO price, and hedge funds are betting it will keep falling.
TL;DRAI
SpaceX IPO surged 50% to $202 then fell 18% below its $111 offer, with retail buyers offsetting fund manager sales. Institutional exit signals governance and valuation concerns for Musk's AI-infrastructure venture; typical founder-control volatility in hot-sector debuts.
94 words~1 min read
