Korean Retail Investors Set Record with $796M Net Purchase on SpaceX's First Trading Day
Taylor Wilson
On SpaceX's first day of trading, Korean retail investors net-bought $796 million of shares — more than any US stock accumulated over the prior three months — despite being almost entirely shut out of the IPO.
How big is $796 million in a single day?
SpaceX listed on June 13. By the close, Korean retail had made it their single largest US stock holding, across more than 14 million individual investors.
Per Korea Securities Depository data, the $796 million one-day net purchase exceeded the cumulative three-month net inflow for any other US stock — including Micron and Nasdaq-100 ETFs.
This means → Korean demand for SpaceX was not "one more popular name." It was a concentrated surge that dwarfed everything else.
They were locked out of the IPO — so why did they buy harder?
Unlike Japan and Australia, Korea did not open a direct retail subscription channel for the SpaceX IPO.
Mirae Asset Securities, one of the Korean IPO underwriters, had promised certain clients access to shares — but received zero allocation. Korea's Financial Supervisory Service has since launched an expanded probe into the firm.
In plain terms = Korean retail got nothing at IPO price, then piled in at a higher price on the open market — pent-up demand doubled down in the secondary market.
How much has SpaceX gained since listing?
Since its debut, SpaceX stock has risen 49%, pushing the company's market cap to roughly $2.65 trillion.
That figure now exceeds Amazon by about $8 billion, placing SpaceX among the world's most valuable companies.
This reflects a market valuation already far above the IPO price — and Korean retail is one of the main buyer groups entering at this elevated level.
Are SpaceX-linked ETFs seeing the same rush?
Beyond direct stock purchases, SpaceX-linked ETFs attracted $301 million in net inflows from Korean investors over the past month.
This means → Korean retail is loading up through both stock and ETF channels simultaneously, amplifying the demand signal further.
Why are Korean retail investors so fixated on US tech?
As of June 15, Korean individuals held $25.9 billion worth of Tesla shares — making them one of the largest overseas retail shareholder groups in the US EV market.
In the three months following the SpaceX listing, Micron ranked second at $748 million in net inflows and Nasdaq-100 ETFs third at $696 million — yet both were surpassed by SpaceX's single-day figure.
In plain terms = Korean retail doesn't just "like US stocks." They show an unusually concentrated preference for Musk-linked companies.
Can they keep buying at these levels?
Whether Korean retail can continue absorbing SpaceX shares at elevated prices hinges on one key variable: the pace of real supply hitting the market once lock-up periods expire.
In plain terms = float is limited now, demand outstrips supply. But once early investors and employees can sell their restricted shares, significant selling pressure may emerge.
This means → the timing of that supply release will determine whether Korean retail secured early positions or crowded into the most expensive seats.
Content is for reference only, not financial advice.