Investing
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Top analyst has harsh words for SpaceX debut: ‘We recommend that investors avoid this IPO’
David Trainer, CEO of research firm New Constructs, is taking a highly contrarian view of the looming SpaceX IPO that’s generating more excitement than any debut in stock market history. And that’s across the spectrum, from institutions anticipating their biggest payday ever from underwriting the shares, to the funds clamoring to get the way-underpriced allocations…
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A Google engineer is facing federal charges after allegedly using his employer’s confidential data to pocket $1.2 million on Polymarket
A software engineer with more than a decade of experience at Google allegedly used internal information to pocket $1.2 million on the prediction market Polymarket. Michele Spagnuolo, the Google engineer who went by the username “AlphaRaccoon” online, allegedly disregarded red text at the top of an internal tool that read “Google Confidential,” and accessed data…
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Gen Z’s Joe Camel moment: how prediction markets learned to speak in memes
When Rory McIlroy won the Masters for the second year in a row, Kalshi shared a photo of him on Instagram with the words, “Wait he’s goated.” When a video of NBA player Damian Lillard recovering from an injury circulated online, Kalshi’s main competitor Polymarket posted, “The league is cooked.” If you don’t know what…
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SpaceX’s $80 billion IPO has a catch: 78% of the money is already spoken for
A big contributor to the soaring spirits surrounding the pending SpaceX IPO is near-certainty that the offering will raise $80 billion or more in fresh capital. But the S-1 the Space, Connectivity and AI enterprise released the evening of May 20th contains a surprising revelation. SpaceX has already pledged the largest part by far of…
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S&P 500 sets all-time high, welcomes another company to $1 trillion market cap club
The U.S. stock market rose to records Tuesday as it caught up with climbs for others around the world from the day before, when President Donald Trump said negotiations were “proceeding nicely” with Iran on ending their war. The S&P 500 climbed 0.6% after trading resumed following Monday’s holiday and set an all-time high. The…
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Goldman Sachs just ran some ugly numbers on the SaaSPocalypse—and found hedge funds are dumping software and piling into semis
Wall Street has been debating the SaaSPocalypse for months, if not years. Goldman Sachs studied how hedge funds and mutual funds are approaching the space—and found a major shift in investing. Software & Services as an industry group is down 14% year-to-date and has lost 9% over the last 12 months. Semiconductors & Semi Equipment…
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Elon Musk’s best friend could make more than $100 billion from SpaceX’s IPO. His firm is also owed billions by SpaceX
Elon Musk has a shadow. His name is Antonio Gracias, a handsome private equity investor from Detroit. The two met through the Silicon Valley web at the turn of the century, and soon Gracias—at 55, just one year older than Musk—lent Musk $1 million in his early days at Tesla, when the company was teetering…
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SpaceX stock is about to join this growing constellation of public companies building a space-based economy
Investors are salivating for SpaceX’s blockbuster IPO in a few weeks, but there are already a number of publicly traded stocks with exposure to different parts of the expanding space economy. The space sector has come into renewed focus as the U.S. and China race to the moon. Meanwhile, SpaceX also seeks to build a…
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Trump’s 3,711 trades point to multiple stock-market strategies
President Donald Trump’s latest financial disclosure has drawn scrutiny for its astonishing scale: 3,711 trades, almost entirely in shares of companies across America, including many whose fortunes can turn on federal policy. Collectively, they constitute an unprecedented burst of stock-market activity by a sitting president that has fueled fascination among the day-trading masses and prompted…
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Elon Musk’s SpaceX IPO filing just told us what business he’s betting on for the future—and it’s not rockets
It’s no surprise that the SpaceX offering statement, filed the evening of May 20, shows that as of today, the rocket, satellite and AI enterprise sports tiny revenues and books large losses. That its market cap following the IPO slated for mid-June’s expected to hit $1.5 trillion or more highlights that its fans are basing…