SpaceX started trading. Retail investors bought $117 million worth on day one. That's 56% of all retail purchases that day. The other 44% went to companies that actually turn a profit.
Vanda Research tracked this. Someone had to. The "Magnificent 7" is dead. Long live the "FAB 10." FAB stands for nothing. It's just letters arranged to sound important while you flush your savings into a rocket company that might colonize Mars or might just be a very expensive fireworks display for billionaires.
The transition from Mag 7 to FAB 10 required adding three companies. Retail traders looked at their portfolios and thought, "You know what this needs? Less diversification and more Elon." They weren't wrong about needing something. They were wrong about what.
SpaceX isn't publicly traded in the traditional sense. Retail investors are buying through secondary markets, paying premiums to hold shares in a company they can't sell easily, don't understand, and whose CEO tweets through FDA approval processes. It's like buying a timeshare, except the timeshare occasionally explodes during testing and everyone calls it progress.
The portfolio plan is simple. Buy seven tech stocks. Realize that's been done. Panic. Add three more including the one that launches satellites and occasionally remembers to land the booster. Call it FAB because Magnificent was taken and Stupendous tested poorly with focus groups.
Fifty-six percent of retail buying power went to one stock on one day. Not spread across ten stocks. Not diversified into the FAB 10. Just SpaceX. The other nine stocks in the FAB 10 sat there wondering what they did wrong. The answer is they didn't promise Mars.
Retail investors just bought the most illiquid position in the least accessible market at the highest valuation because someone added it to an acronym.
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