Retail Investors Sell Microsoft, Oracle to Buy SpaceX
Cboe's JJ Kinahan revealed that retail investors are selling Microsoft and Oracle to buy SpaceX. The question now is which mega-cap tech stock will lead the next leg.
JJ Kinahan, Senior VP of Retail and Alternative Investments at Cboe Global Markets, told CNBC's Squawk Box on June 24, 2026, that retail investors are selling Microsoft (MSFT) and Oracle (ORCL) to fund purchases of SpaceX. He noted that the 'buy the dip' playbook in mega-cap tech is still intact, but the challenge is figuring out which stock leads the next leg.
Details of the Shift
According to Kinahan, retail investors have sold stakes in Microsoft and Oracle, two of the world's largest tech companies, to redirect proceeds into SpaceX, the private company led by Elon Musk. This shift reflects investors' desire to diversify portfolios and invest in the growing space sector.
Broader Context
The moves come amid volatility in mega-cap tech stocks, while SpaceX remains attractive due to ambitious projects like Starlink and Starship. However, no details on the size of sales or total transaction value were disclosed.
What It Means for Investors
This trend suggests retail investors are seeking new growth opportunities beyond traditional tech stocks. Investors should monitor retail flows closely, as they can impact stock prices in the short term.
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