SpaceX once fell more than 10%, and retail demand on IPO day pushed Charles Schwab into the top five busiest trading days.

```

SpaceX’s initial public offering (IPO) sparked unprecedented enthusiasm among U.S. retail investors, pushing Charles Schwab into one of the busiest trading days in its 55-year history.

Charles Schwab CEO Rick Wurster said on Thursday that trading activity on the day of SpaceX’s IPO ranked among the company’s top five busiest days, a result he found “incredible.”

He attributed this enthusiasm to retail investors’ strong desire to participate in the wave of economic innovation in the U.S. Schwab received about 140,000 client calls related to SpaceX's listing that day, and the IPO team was expanded to ten times its original size in advance.

This SpaceX IPO was the largest in history. Charles Schwab was one of the five retail investment platforms listed in the prospectus, with the other four being Robinhood Markets, Fidelity Investments, SoFi Technologies, and Morgan Stanley’s E-Trade.

After SpaceX went public, its stock price fluctuated sharply. The IPO was priced at $135; secondary market trading began last Friday. On Tuesday, the price reached an intraday high of $218.76, up more than 60% from the IPO price. It then closed down 4.95% on Wednesday, and continued to decline Thursday, at one point falling more than 10%. As of press time, it was at $178.5.

Retail enthusiasm crosses age groups and backgrounds

Wurster stated that SpaceX created broad appeal among retail investors of all ages and backgrounds.

“Looking back at all the market events over the past 50 years, for an IPO to make it into the top five is truly surprising. I think it’s due to the impulse of retail investors wanting to participate in economic innovation firsthand.”

Wurster also pointed out the structural logic behind the surge in retail participation. He noted that tech companies generally delay their IPOs, leading to a lot of value accumulating during the private funding stage, leaving ordinary investors excluded for a long time.

“These companies are waiting longer and longer to go public. A lot of value is already being created in the private stage, and people are eager to get involved.”

This SpaceX IPO, with its record-setting size, is a manifestation of this trend—retail investors see it as a rare window, attempting to share in the company’s growth dividends at the first moment it enters the public market.

Risk warning and disclaimer clausesThe market entails risks; investments need to be made cautiously. This article does not constitute individual investment advice, nor does it take into account the special investment goals, financial situations, or needs of individual users. Users should consider whether any opinions, viewpoints, or conclusions in this article suit their specific circumstances. Investment based on this is at your own risk. ```