SpaceX Drew $800 Million From Korean Investors on Trading Debut

South Korean retail investors snapped up almost $800 million of SpaceX shares on the stock’s first day of trading, underscoring strong demand for Elon Musk’s company after local investors were shut out from the world’s largest initial public offering.

With a single day net purchase worth $796 million on SpaceX’s first trading day on Friday, the rocket and artificial intelligence company has become the most popular US stocks among the more than 14 million individual investors based in South Korea, according to Korea Securities Depository data. The one-day total was bigger than the cumulative net purchases of any other ...