Korean retail investors trading U.S. stocks bought more than 1 trillion won worth of SpaceX shares in a single day on the company's listing day, led by Elon Musk, according to tallies.
On the 17th, according to the financial investment industry, through a total of 11 securities firms, including Mirae Asset and Korea Investment & Securities Co., which rank among the top 10 by equity capital, and Toss Securities, individual investors made net purchases of SpaceX totaling 1.2346 trillion won ($808.5 million) on the 12th (local time).
As a result, SpaceX cracked the top 30 of U.S. stocks most held by Korean retail investors trading U.S. stocks in just one day.
SpaceX was listed on Nasdaq on the 12th. Korean retail investors trading U.S. stocks poured more than 1 trillion won into buying SpaceX shares in a single day. Net purchases of 1.2 trillion won in one day for a single issue are among the largest in recent times.
Before SpaceX's listing, the issue most bought in a day by Korean retail investors trading U.S. stocks was the leveraged exchange-traded fund (ETF) that tracks the Philadelphia Semiconductor Index at three times the daily move, "Direxion Daily Semiconductors Bull 3X (SOXL)."
On the 4th, in a single day, Korean retail investors trading U.S. stocks made net purchases of $514.22 million (785.2 billion won) of this issue. The ETF's net purchases were 25 times those of the second-ranked issue that day. But the funds Korean retail investors trading U.S. stocks spent buying SpaceX on its listing day exceeded this ETF's net purchases by 1.5 times.
Korean retail investors trading U.S. stocks are seen as having launched large-scale buying on expectations that SpaceX's share price will continue to rise.
SpaceX priced its IPO at $135, began trading at $150 on the listing day, surged intraday to $176, and closed at $161.11, up 19.3%.
Meanwhile, according to the Korea Securities Depository (KSD) securities information portal SEIBro, Korean retail investors trading U.S. stocks also made net purchases of $316.54 million over the past month, before SpaceX was listed, of "Tema Space Innovators (NASA)," an ETF that holds SpaceX.