Retail demand for SpaceX in the first week of trading was historic: Retail investors purchased +$405 million of SpaceX, SPCX, during its first 5 trading sessions, the largest first-week retail purchase of any IPO on record, according to Vanda Research. By comparison, the 2nd-largest first-week purchase was Rivian, RIVN, at +$185 million in November 2021, less than half of SpaceX's total. This total also exceeds combined purchases of Magnificent 7 stocks, at +$158 million over the same period. Furthermore, SpaceX attracted more retail capital than the combined purchases of the S&P 500 ETF, SPY, and the Nasdaq 100 ETF, QQQ, which came in at +$352 million last week. No stock debut has ever generated this much retail demand.(The Kobeissi Letter)