CMC Invest SpaceX orders stayed heavily tilted to buying in 2026, even after the stock fell below its offer price. The broker said 91% of client orders in SpaceX were buys in the first half of the year. It also said 88% of orders from July 1 to July 22 were still buys.
SpaceX quickly became the fourth most traded US stock on the Australian platform after it became available. The company priced its shares at $135 and started trading on Nasdaq on June 12. However, the stock first closed below that offer price on July 16 and ended Friday at $115.07, after a 2.7% fall on the day.
HSBC analyst Nicolas Cote-Colisson started coverage last week with a hold rating and a $115 price target. That target sat below the IPO price paid by investors. Meanwhile, CMC Invest said its figures cover orders in the physical shares rather than derivatives.
CMC Invest SpaceX Orders Defy Price Drop
CMC Invest linked the early moves in the stock to limited supply. Only about 5% of SpaceX shares were available for trading after the listing. As a result, small changes in demand had a bigger effect on price and helped drive a 32% fall from the June peak.
Henry Fisher, a market analyst at CMC Invest, said demand for newly available names such as SpaceX shows that investors still want exposure to long-term growth themes. He also said market swings are a lasting part of investing.
Before the listing, brokers and exchanges raced to offer SpaceX products to retail clients. CMC Markets, the FTSE 250 parent of CMC Invest, launched grey market spread bets and CFDs in May. On the same day, Binance introduced a USDT-margined pre-IPO perpetual future.
Other Platforms Pushed SpaceX Access
Bitget added a product called preSPAX in April. PU Prime opened a pre-IPO CFD under the symbol SPCXUSD on May 29. The Trading Pit also promoted funded accounts for the stock’s first trading session.
However, several products ended on listing day. Binance, Bybit, Bitget Wallet and MEXC cancelled their tokenized SpaceX allocations on June 12. They also refunded users after xStocks could not source the underlying shares.
Synthetic trading still continued elsewhere. MEXC logged $7.1 billion in SpaceX futures volume. Pepperstone also said this month that it would expand its perpetual CFDs beyond the stock into metals, indices and energy.
CMC Invest said similar buying patterns appeared in Australian stocks, with about 80% of client orders in CSL, WiseTech Global and Xero marked as buys despite sharp share price falls.
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Source: Finance Magnates
