I have covered the balance of my SpaceX ($SPCX) short at $111.80.
SpaceX is trading under $112, down from my short at $213 and its high of $225.
I value SPCX at about $70-$80/share (as I noted at the time of the IPO).
My view is that the Musk/Tesla/SpaceX cult (as they did with Tesla) will maintain a premium to my fair market value for some time to come.
That premium is now about 50%, which is much less than the premium Tesla has maintained over time.
Positions: None.
I am bidding slightly under the market to cover more SpaceX ($SPCX) (trading under $110).
Position: Short SPCX VS
The good news is Iran and the U.S. seem to be talking again. The not-so-good news is the AI tech trade and all its parts are falling fast. Let’s dig in.
Plus, let’s get ready for Apple’s upgrade program that begins this week.
While most investors are focusing on the Q2 earnings reports and Iran, I am watching the credit markets closely. Here’s why.
Covering some more SpaceX ($SPCX) short under $114.
Position: Short SPCX (VS)
As earnings reveals a less-than-pretty picture in the market, I’m eyeing some carefully selected stocks outside the tech trade.
Consider the plethora of talking heads in the business media who encouraged the purchase of SpaceX ($SPCX) (which is -$5 to $118 and at a new low) at materially higher prices.
And then ask yourself…. “Self, why do I even listen to these imbeciles?”
Position: Short SPCX (S)
The long-time Sarge fave is landing government wins and approaching a key technical pivot. Here’s what to know.
Let’s check the latest on how AI escaped the ‘sandbox,’ oil prices amid Iran unrest, the tech trade and … what’s happening with SpaceX.
