Korean retail investors trading U.S. stocks who invest in the U.S. stock market bought a net 300 million won of SpaceX shares over four days. SpaceX shares fell for the second straight day after listing, but buying by Korean retail investors trading U.S. stocks continues.
On the 21st, according to Korea Securities Depository (KSD)'s securities information portal, SEIBro, the cumulative net purchases by Korean retail investors trading U.S. stocks since SpaceX's listing totaled $1,949.60 million (about 2.9887 trillion won). It has been four consecutive days of net buying since the listing. On the 17th (local time) alone, net purchases reached $136.67 million (about 209.5 billion won).
Domestic investors have bought the most net of SpaceX in the U.S. market this month. The amount exceeds six times that of No. 2, Marvell Technology ($395.5 million). Based on current holdings, there is talk it could overtake Intel ($2,013.89 million), previously the No. 20 holding.
However, the share price trend has stalled, contrary to expectations. SpaceX listed at an offering price of $135 and at one point topped $200, but fell for two straight days on the 17th and 18th. The closing price on the 18th was $184.98.
With buying flowing into SpaceX, Korean retail investors trading U.S. stocks recorded $846.26 million (about 1.2937 trillion won) in net purchases in the U.S. market through the 19th of this month (as of query date). Total purchases were $23,678.86 million and total sales were $22,832.60 million.
Accordingly, the flow of funds for Korean retail investors trading U.S. stocks, which recorded net selling for two straight months in Apr. and May, is increasingly likely to shift back to net buying after three months.