Rocket company SpaceX shares continue to attract interest from retail investors, J.P. Morgan analysts write, despite volatility in the stock.

The Elon Musk-led company's initial public offering included a record allocation to retail investors of around 20%, the analysts say, compared with a typical level of closer to 5%. J.P. Morgan analysts are bullish on SpaceX, expecting sharp growth in the number of Starship launches. They also anticipate progress in the reusability of its spacecraft.

SpaceX shares hover just above the company's IPO price of $150 in premarket trade, rising 1.4% to $150.39.

(END) Dow Jones Newswires