SpaceX meme stock surge defies gravity
Blasts past Amazon, Bezos left choking in the dust
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SpaceX blasts past Amazon at $2.66 trillion, Bezos left choking in the dust
Fable 5 blackout over? Kalshi bettors loading up on quick Anthropic fix
Rich Californians race to donate cash and dodge proposed billionaire tax
NYC council votes to lock in city-owned grocery stores forever by law
Defense boom alert! GM and Lockheed combine forces to flood capacity
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Today’s Markets + Assets
✅ CBOE VIX Volatility: 16.81 (🔼 2.38%)
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SpaceX meme stock defies gravity and crushes indexes
SpaceX shares have soared 55% above its $135 dollar IPO price in just days after debuting publicly, driven by tiny available float and new derivatives rather than company fundamentals as technical pressures build before major index inclusions.
Tiny Float Scarcity Drives: Only 555.6 million shares sold representing five percent of stock creates extreme demand with another 83.3 million from overallotment while insiders remain locked.
Options Activity Boosts Buying: New options trading sees market makers purchasing underlying shares to hedge calls generating immediate upward pressure this week on the stock.
Hedge Funds Anticipate Demand: Arbitrageurs buy ahead expecting passive trackers to purchase when SpaceX enters FTSE Russell MSCI and Nasdaq-100 indexes over coming weeks.
Potential Hype Tax Looms: Analysts highlight spectacular IPO openings often disappoint with median one-year return negative 15.6% after opening trade.
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SpaceX blasts past Amazon at $2.66 trillion, Bezos left choking in the dust
Elon Musk-led SpaceX shares rose two percent in premarket Wednesday after surging around 62% since Friday IPO pushing valuation past Amazon briefly to fourth-largest US company at $2.66 trillion despite recent losses.
Consistent Gains Continue: Stock climbed after blockbuster IPO with investors betting on Musk ability to deliver long-term returns including possible one trillion revenue by 2030.
Lofty Valuation Questions Raised: Company posted $4.9 billion net loss in 2025 and $4.28 billion loss in first quarter yet excitement drives trading action.
Fundamentals Must Match Excitement: Experts note rubber meets road when fundamentals need to align with enormous valuation likely taking couple years to grow into.
Starlink Dominance Highlighted: Firm leads in satellites through Starlink service and reusable rockets fueling investor bets on ambitious growth plans ahead.
Fable 5 blackout over? Kalshi bettors loading up on quick Anthropic fix
Prediction market traders on Kalshi assign 58% chance Anthropic restores access to Fable 5 model for US customers by July 1 after disabling it Friday to comply with US government order limiting foreign reach.
Higher Odds By July: Traders give 74% probability model returns by July 10 following company meeting with Trump administration officials on Monday.
Compliance Disabled All Access: Anthropic suspended model for every customer to ensure no foreign nationals could use it after federal directive.
Recent Model Announcement: Decision came days after unveiling Fable 5 previously tangled with administration over supply chain risk label in March.
Polymarket Matches Optimism: Separate platform shows 67% odds access restores to US customers by July 1.
Rich Californians race to donate cash and dodge proposed billionaire tax
High-net-worth Californians are ramping up philanthropy and balance-sheet restructuring to drop net worth below $1 billion dollars ahead of proposed 5% one-time billionaire tax targeting roughly 200 residents due in 2027.
Prefer Charities Over Government: Clients would rather funds support effective nonprofits than Sacramento spending they distrust according to advisors handling multiple cases.
Signatures Trigger Ballot Push: Union collected 1.55 million signatures nearly double requirement placing measure on November ballot for assets over $1 billion.
Creative Avoidance Tactics: Methods include delaying funding rounds pulling real estate into personal trusts and buying art or yachts kept outside state 270 days yearly.
Voters Back Tax Idea: About 54 % of California voters support the billionaire tax per recent Public Policy Institute poll.
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NYC council votes to lock in city-owned grocery stores forever by law
New York City council members propose codifying Mayor Zohran Mamdani’s plan requiring at least five municipal grocery stores per borough permanently after he announced Bronx location opening next year with 70 million dollars allocated.
City Owns Land Overhead: Public ownership eliminates costs passed to consumers while private operator handles daily operations passing savings on staple items.
Aim For Food Access: Initiative strengthens neighborhood availability delivering affordable high-quality groceries across all five boroughs.
Partnership With Operators: Commissioner designates agency to partner with contracted entities through proposals for store development and management.
Mamdani Socialist Vision: Self-described democratic socialist mayor seeks five sites by end of first term to lower everyday staple costs citywide.
Defense boom alert! GM and Lockheed combine forces to flood capacity
General Motors announced a new partnership with Lockheed Martin on Tuesday to expand production of munitions and defense parts, facilitated by the U.S. Department of Defense at a time when the country is ramping up weapons output.
Deal Focuses Munitions Growth: Collaboration targets improving production readiness strengthening supply chains and applying advanced manufacturing to boost efficiency and accelerate delivery timelines.
Investment Plans Highlighted: Lockheed committing $9 billion dollars through 2030 to modernize facilities while GM spending $7 billion on U.S. research and development.
Early Stage Memorandum: Executives note partnership still developing under memorandum of understanding with potential future contracts yet to be fully defined.
Historical Defense Roots: GM built tanks in World War II and its reestablished Defense unit now serves Army Secret Service and NASA customers.
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