Korean retail investors trading U.S. stocks bought more than 1 trillion won worth of SpaceX shares in a single day on the listing day of the space company led by Elon Musk, data showed.
On the 17th, according to the financial investment industry, individual investors made net purchases of SpaceX totaling 1.2346 trillion won ($808.5 million) on the 12th (local time) through 11 securities firms, including Mirae Asset and Korea Investment & Securities Co. among the top 10 by equity capital, as well as Toss Securities.
As a result, SpaceX vaulted into 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 stock are the largest in recent memory.
Before SpaceX went public, the stock most heavily 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, Korean retail investors trading U.S. stocks made net purchases of $514.22 million (785.2 billion won) of this product in a single day. The ETF's net purchase amount was 25 times that of the day's No. 2 stock. But the funds Korean retail investors trading U.S. stocks spent buying SpaceX on listing day exceeded this ETF's net purchases by 1.5 times.
Korean retail investors trading U.S. stocks are seen to have launched large-scale buying on expectations that SpaceX's share price will continue to rise.
SpaceX priced its IPO at $135, opened at $150 on the first day of trading, jumped intraday to $176, and closed at $161.11, up 19.3%.
Meanwhile, according to 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 of the ETF holding SpaceX, "Tema Space Innovators (NASA)," before SpaceX was listed.