Micron Sees Three Days of Retail Selling for SpaceX’s $135 IPO, Shares Gain 3.2%
MU•Micron saw three days of retail selling as investors liquidated chip shares to fund SpaceX’s IPO at $135, with estimates up to $50 billion in flows triggering ETF unwinds. On June 11, Micron shares rose 3.2%, trailing the Philadelphia Semiconductor index’s 3.5% gain as investors weighed Fed rate outlook.
1. Retail Selling for SpaceX IPO
Over the first half of June, individual investors sold Micron shares for three consecutive sessions to free up liquidity for participation in SpaceX’s IPO at $135 per share.
2. ETF Flow Risks
Estimates suggest up to $50 billion of retail and passive inflows into SpaceX could prompt unwinding of leveraged semiconductor ETFs, potentially amplifying downward pressure on Micron.
3. Share Rebound and Market Factors
On June 11, Micron shares recovered 3.2%, slightly trailing the Philadelphia Semiconductor index’s 3.5% gain as traders factored in the Federal Reserve’s rate outlook, a surge in producer prices and geopolitical tensions in the Middle East.
