Month: June 2026

Margin Debt as a % of M2 is now at its 2nd highest level in history, just behind the Dot Com Bubble 🚨🚨 pic.twitter.com/MOkHLc8xLV

— Barchart (@Barchart) June 30, 2026

Positions: None.

An important read on the hyperscalers and why we are bullish. https://t.co/7sEnsPO06d

— Bill Ackman (@BillAckman) June 30, 2026

Positions: None.

Positions: None

Positions: None.

Upside:

-AVAV +35% (earnings, guidance)

-VWAV +29% (acquires 51% controlling interest in private Israeli aerospace and defense company Meteor Aerospace for ~$20.4M in stock)

-SEDG +11% (solar stock strength following FCC reportedly drafting ban on imports of foreign inverters)

-JACK +10% (momentum)

-ENPH +9.4% (solar stock strength following FCC reportedly drafting ban on imports of foreign inverters)

-APD +8.3% (will not proceed with Louisiana Clean Energy Complex)

-GMAB +8.2% (Phase 3 EPCORE DLBCL-4 meets primary PFS endpoint in R/R DLBCL)

-RDW +7.8% (awarded contract by Taiwan Color Optics to deliver Penguin Mk2.5 VTOL UAS to Taiwan Coast Guard)

-JOBY +7.0% (launches initial phase of strategic manufacturing alliance with Toyota)

-PCRX +3.8% (divests iovera° to Zimmer Biomet for up to $140M)

-RUN +3.3% (solar stock strength following FCC reportedly drafting ban on imports of foreign inverters)

-AXON +2.4% (momentum)

-FSLR +2.3% (solar stock strength following FCC reportedly drafting ban on imports of foreign inverters)

Downside:

-UNCY -51% (FDA issues complete response letter for OLC NDA resubmission due to third-party manufacturing deficiencies)

-CNXC -23% (earnings, guidance)

-NVCT -22% (prices 5.0M shares at $20.00/shr for $100M gross proceeds)

-SOC -21% (plans $100M common stock offering and $300M convertible senior notes due 2031)

-BDRX -16% (prices $3.5M registered direct offering and $1.0M private placement with warrant inducement)

-VSH -11% (prices 15M-share offering at $50/share for $750M gross proceeds)

-PATK -10% (LCII to combine with Patrick Industries in all-stock merger)

-MSTR -5.1% (adopts Digital Credit Capital Framework; authorizes $1B Digital Credit Securities repurchase and $1B class A common stock repurchase)

-DLR -4.7% (prices Blackstone secondary offering of 12.3M shares at $185/share)

-ABBV -2.1% (US House Committee opens investigation into China drug trials)

-OLN -2.0% (Tier1 firm Cuts OLN to Underperform from Buy, price target: $21 from $32)

Positions: None.

The CNBC Panelist Said What" (Issue #5)

It seems only natural to follow up yesterday's Issue #4 (Tom Lee) with CNBC's Josh Brown – as they are likely among the most conspicuous guests and panelists on CNBC.

While Tom Lee pays to deliver his calls (the worst of which was his…

— Dougie Kass (@DougKass) June 30, 2026

Position: None

Fed Speaker

10:40 a.m.: Fed Bank of Cleveland President Hammack (Voter) television appearance on CNBC

Treasury Auctions

11:00 a.m.: Treasury Announces a 4, 8 and 17 Week Bill Auction; 

11:00 a.m.: Treasury buyback announcement (liq support); 

11:30 a.m.: Treasury hosts an $80B 6-Week Bill Auction

Economic Calendar

Positions: None.