SpaceX retail investors turn net sellers
Analysis based on 29 articles · First reported Jul 16, 2026 · Last updated Aug 18, 2026
The first net retail selling of SpaceX shares signals waning retail enthusiasm and could pressure the stock further, especially with increased share supply from lockup expirations. However, the relatively small outflow ($4.5 million) compared to prior buying suggests the impact may be limited in the short term, though it reflects broader concerns about valuation and AI spending sustainability.
Retail investors sold SpaceX shares on a net basis for the first time since the company's June IPO, offloading $4.5 million on August 7, according to Vanda Research. This reversal follows weeks of persistent net buying, including a significant dip-buying session on August 5 when shares fell 13.6% after SpaceX's first quarterly earnings report as a public company. The stock, which had surged 67% above its $135 IPO price in June, has since fallen more than 22% below that level and has closed below the IPO price every day since July 16. The shift in retail sentiment coincides with the expiration of early lockup restrictions, which more than doubled the number of shares available for trading. SpaceX's valuation remains elevated at roughly 38 times forecast sales, and concerns persist about the sustainability of its AI investments funded by SpaceX — Starlink's profits. The company is pursuing a vertically integrated AI infrastructure strategy, including plans for AI compute satellites by 2028 and a $60 billion all-stock acquisition of Cursor (company), the maker of the AI coding assistant Cursor. These developments have positioned SpaceX as a major driver of Elon Musk's wealth, surpassing Tesla in market value, but the stock's post-IPO volatility and valuation concerns have led to a cautious stance among retail investors.
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