EasyEquities says South African retail investors traded over R100m on SpaceX IPO day one, nearly double its previous IPO record from Boxer.
EasyEquities investors in South Africa jumped into the SpaceX IPO in big numbers. In a June 22 blog post, EasyEquities said retail users drove over R100 million in trading volume on day one.
CEO Charles Savage said the demand was far above what the platform typically sees. He told Currency that a “big week” for a heavily traded stock on the platform can be around R10 million. SpaceX hit more than R100 million in a single day.
SpaceX priced at $135 per share and listed on the Nasdaq under the ticker SPCX. The IPO raised $75 billion and valued the company at about $1.77 trillion at pricing. Shares opened at $150 and closed at $160.95, taking its market cap above $2.1 trillion.
The listed group combines the rocket launch business, Starlink satellite broadband, and xAI. xAI is Musk’s AI company, and it reportedly added significant losses in 2025 due to high spending. Savage said some investors viewed the stock as expensive, but still saw long-term upside.
EasyEquities said the first-day rush created strain but no major outages. Savage reported around 10 minutes of pricing problems around 7pm South African time, which led to a brief trading suspension.
This is another signal that mobile-first retail investing is becoming a bigger force in South Africa’s market participation. An IPO is a company’s first sale of shares to the public, and platforms like EasyEquities make that access simple for smaller investors.
It also shows how global tech listings can pull African retail capital, even when fundamentals like profitability are debated. For local brokers and fintech investment apps, the operational takeaway is clear. Peak-day reliability and accurate real-time pricing matter as much as marketing when high-demand listings land.
Primary Source: blogs.easyequities.co.za
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