SpaceX closed at $132.40 on Tuesday, sliding below its $135 June debut price for the first time as Starship delays, Starlink saturation and cooling AI-adjacent premium eroded a listing once priced for perfection.
The market has indeed swung from pricing cuts to pricing a hike under Warsh -- 76.06% on the Atlanta Fed's September SOFR window, only a 19.6% chance rates are still at 3.50-3.75% by December 9 -- but this is not an unpriced discount-rate shock: it is fully in the strip, already paid for by a 2-year at 4.26% (51bp above the top of the range), and owned by leveraged funds net short 2,872,406 SOFR contracts; the only people not positioned are equity investors, 83% of whom expect no hike before the November midterms with cash at 3.6%, which makes the dislocation one between two markets rather than between the market and the Fed -- and dangerous in both directions, because every hawkish dot was cast before a June CPI that printed core at -0.02% m/m and 2.57% y/y.
DIFC asset management and capital-markets activity have shifted from booking to origination, and the implications for regional capital flows are larger than they look.
Darsana Capital Partners holds nearly 60% of assets in SpaceX. With an IPO on the table, the position becomes either a career-defining win or a textbook example of why diversification rules exist.
Elliott's position in Bio-Rad puts a familiar activist playbook to work in a sector where strategic optionality has been visible — and ignored — for years.
A $30 billion fundraise concentrates venture capital around a small set of model labs and underscores how unusual the current capex cycle has become.
A 26 percent first-quarter jump in foreclosure filings is the most visible sign yet that the U.S. housing market’s elevated carrying costs are catching up with stretched homeowners.
Bill Ackman's dual IPOs this Wednesday: his management firm & a new U.S. fund. Explore how his social media following could drive their market debut.