Retail Traders Dump Big Tech to Raise ‘Dry Powder’ to Buy SpaceX
Bloomberg.com • • business
Key Points:
- Retail traders are losing interest in high-performing computer memory and storage stocks as attention shifts toward SpaceX's upcoming initial public offering (IPO).
- Data from Vanda Research Ltd. shows that retail investors are reducing their holdings in semiconductor stocks and avoiding buying on price dips in related sectors.
- While some attribute this selling to profit-taking after significant gains in AI-linked stocks, analysts suggest traders may be conserving funds to invest in SpaceX's IPO.