SpaceX Is Up 35% in Two Days and Wall Street Is Having an Existential Crisis
SpaceX's post-IPO euphoria, Fox's $22B Roku hangover, and why crude oil just had its worst day in months — social sentiment is all over the map
Ticker Ratings
Let's start with the obvious: $SPCX is up roughly 35% across two trading sessions after its blockbuster IPO, making Elon Musk the world's first trillionaire and giving Jim Chanos a migraine. YouTube's Joseph Carlson flagged the elephant in the room — the stock trades at ~110x revenue, and SpaceX is quietly pivoting toward lower-margin GPU-leasing (NeoCloud), which is... not exactly the high-growth space narrative investors are paying for. Fundstrat's Tom Lee crowd is euphoric. The skeptics are quietly sharpening their knives.
Meanwhile, $FOXA dropped ~17% after confirming its $22 billion acquisition of Roku — a deal that is, depending on who you ask, either a genius streaming pivot or an absurdly expensive panic buy. Fox has ~90% linear TV exposure, so buying Roku's 100 million households makes strategic sense. But paying a price equal to your own market cap, in a deal that's 40% your own stock? Reddit is not impressed. Barron's framed it charitably. The tape did not.
The macro backdrop is actually good news: the US-Iran deal reopened the Strait of Hormuz, WTI crude cratered ~5.3% to ~$80/barrel, and the Nasdaq ripped ~3%. But energy analysts warn inventories are at a 43-year low and Brent could retest $100 in July. The deal bought time — not a cure. Two tickers ran, one faceplanted, and oil got body-slammed. Perfectly normal Monday.