Weekly Commentary: SpaceX And A Z.1 (Q1 2026)

2026-06-13 04:15:47 ET

For posterity, SpaceX (SPCX) traded 522 million shares in its initial Friday trading session, gaining 19.2%, and inflating market capitalization to $2.105 TN. By market cap, SpaceX trails only Nvidia, Alphabet, Apple, Microsoft and Amazon in the U.S. The world has its first trillionaire.

"'Praise the Lord': Traders Feel Lucky to Get a Piece of SpaceX." "'Manic Impulsiveness' Drives SpaceX-Fueled Retail Risk Complex." "SpaceX's Goldilocks IPO Just Changed Markets Forever." "Financials Up on Anticipation of Investment Banking Bonanza." "Goldman and Morgan Stanley to Pocket $100 Million Each In SpaceX IPO Fees." "The SpaceX Feeding Frenzy is Under Way."

One would be hard-pressed to conceive of a more telling sign that a major market top is at hand. At least SpaceX, Trump claims of an imminent Iran deal, and an impending quarterly options/derivatives expiration made for lively market dynamics....

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