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Welcome to Wall Street, SK Hynix.
Largest U.S. debut ever by a foreign company…
Every AI model depends on two critical pieces of hardware.
→ The processor does the thinking.
→ The memory keeps feeding the processor the data it needs to think. If that flow slows down, even the world’s fastest AI chip spends more time waiting than computing.
That’s why high-bandwidth memory—better known as HBM—has become one of the most valuable technologies in AI.
One company produces more than half of it.
And today, SK Hynix raised $26.5 billion in the largest U.S. market debut ever by a foreign company, surpassing Alibaba’s 2014 record.
Shares priced at $149, opened at $170, finished the day up 14%, and the offering was reportedly seven times oversubscribed.
The IPO made headlines.
The technology behind it is the bigger story.
Here is the story. ⇩
SPONSOR BREAK presented by MarketWise*
He Put Half His $9 Billion Into One Unusual AI Stock
One billionaire put over half his $9 billion fund into one unusual AI stock — then bought more shares nearly every day for 61 straight trading days.
It’s not Nvidia… a chipmaker… or a cloud giant.
Instead, it owns the assets the entire AI boom depends on…
And Trump signed emergency executive orders to protect them.
Right now it’s trading at a rare discount…
The same kind that’s previously turned $10,000 into $55,000. In just over 12 months
A New IPO Record.
The AI infrastructure boom has a new record holder.
✱ SK Hynix · 2026 | $26.5B — Largest U.S. debut ever by a foreign company
✱ Alibaba · 2014 | $25B — Held the record for 12 years
✱ SpaceX · 2026 | $86B — Largest IPO ever overall
Alibaba’s 2014 IPO captured one of the defining investment themes of its decade: the rise of e-commerce and the mobile internet.
Twelve years later, SK Hynix has taken the record at a very different moment.
This time, investors are chasing the companies building the infrastructure behind artificial intelligence.
SPONSOR BREAK presented by MarketWise*
Will You Survive the MAR-A-LAGO RESET?
Bloomberg calls it “a dire shift of fortunes for America” and The Wall Street Journal calls it a “New World Order.” Now, Dr. David Eifrig – a 40-year market veteran who traded through Black Monday and has recommended more than a dozen triple-digit winners – warns that you must make one of the most important financial decisions of your lifetime today. He strongly recommends this ONE step to potentially secure your retirement.
What HBM actually is — and why it is the bottleneck
High-bandwidth memory is the reason AI models can run fast.
Without it, Nvidia’s GPUs are significantly slower.
How high-bandwidth memory works:
1 The problem with regular memory
AI chips like Nvidia’s GPUs need to access data constantly to run AI models. Standard memory is too slow — the chip has to wait, which makes the whole process inefficient. It is like trying to recall your entire life history every time someone asks what you had for lunch.
2 What HBM does differently
HBM sits physically next to the processor — stacked on top of it — and transfers data at extraordinarily high speeds. It holds only the most immediately relevant data, feeding it to the chip instantly. The result: AI models run far faster and more efficiently.
3 Why supply cannot keep up with demand
Building HBM manufacturing capacity takes years — new facilities require extensive construction, tooling, and qualification. The current shortage is expected to persist into 2030. Every data center being built right now needs HBM. There is not enough of it.
SPONSOR BREAK presented by BrownstoneResearch*
Did Elon Musk Just Open America’s Last Retirement Window?
Jeff Brown believes by the end of this month, this Elon Musk new AI breakthrough will collide…
With a powerful market prophecy that has correctly predicted some of the biggest market booms going back to 1950…
Giving Americans a rare and perhaps last chance to turn a small stake into an entire six-figure nest egg in the next 12-18 months.
The last time something like this happened, investors had a chance to turn a small stake of $10,000 into as much as $366,000 in just 14 months.
Who makes HBM — three companies, one dominant
High-bandwidth memory is dominated by just three manufacturers—all key suppliers to Nvidia’s AI ecosystem.
✱ Why US investors had almost no way to own this until today.
SK Hynix and Samsung trade primarily on the Korea Exchange.
Most American retail investors and many institutional funds cannot easily access Korean-listed shares.
The ADR structure (each SKHYV ADR representing one-tenth of a Korean share) gives US investors a direct, dollar-denominated way to own the company that controls more than half the world’s HBM supply.
That access gap is part of why demand was 7x oversubscribed — the stock was already well-known; the US listing was what was missing.
SPONSOR BREAK presented by ParadigmPress*
Move your money NOW! – Former CIA Advisor
He predicted the 2008 financial crisis…
He predicted Trump’s election in 2016….
He even predicted the rise of COVID-19 writing:
“The chance we don’t have something on the scale of a national pandemic in the next few years is near zero”
That was three months before the first reported case.
If he’s right again, God Bless America…
Because this crisis will be tectonic in scale…and it’s going to begin with the bubble popping in AI.
The Korea Track Record…
SPONSOR BREAK presented by MarketWise*
“Biggest Breakthrough in the History of Stock Trading”
A Maryland computer whiz recently created a new form of “Predictive AI” that can foresee the future prices of any of 2,334 stocks – to the penny – with 73% historical accuracy. It’s led to a huge anomaly that would’ve turned every $5,000 into over $15,000 in the 16 months following its creation in one study.
Click here for your free demo here (no purchase required).
Where SK Hynix Sits In The AI Supply Chain?
Every major AI story we have covered this month runs through HBM memory.
→ Anthropic / Claude — trains and runs on Nvidia GPUs. Every GPU requires HBM. SK Hynix supplies the memory that makes Claude run.
→ SpaceX Colossus data centers — the AI compute infrastructure behind the $27.8B annual contracts with Anthropic and Google. Colossus runs on HBM-equipped processors.
→ Amazon AWS / Microsoft Azure — hyperscaler AI compute that Tepper, Ackman, and Klarman are betting on. Data center servers require HBM for every AI workload.
→ Apple MacBooks and iPads — raised prices this month due to memory cost inflation. The same HBM shortage driving AI demand is squeezing consumer electronics margins.
The Honest Risk.
The Bull Case:
→ Supply remains tight — Industry shortages are expected to persist through 2030.
→ Customers are locking in supply — Micron is signing five-year contracts, replacing the one-year agreements that were once standard.
→ Investors have noticed — SK Hynix shares climbed 634% on the Korea Exchange over the past year.
→ Demand spilled into the IPO — The U.S. debut was 7x oversubscribed, raising $26.5 billion.
→ Supply can’t catch up overnight — Building new HBM fabrication plants takes years, keeping the market structurally tight.
The Bust — the history:
→ Memory has been here before — Just a few years ago, oversupply pushed prices so low that some manufacturers were selling chips at or below cost.
→ Today’s shortage began with yesterday’s cutbacks — Producers reduced capital spending when margins collapsed, limiting the capacity now available for the AI boom.
→ Long-term contracts offer protection, not certainty — Five-year supply agreements may help smooth demand, but customers can still renegotiate or reduce commitments if market conditions change.
→ AI demand may not grow in a straight line — Spending could slow, consolidate among fewer buyers, or shift toward more efficient technology.
→ High prices attract new supply — The stronger today’s margins become, the more aggressively manufacturers invest in additional capacity.
That is the central risk.
The shortage supporting today’s boom is also encouraging the investment that could eventually end it.
⚠️ Every shortage plants the seeds of the next surplus.
That’s how the memory industry has worked for decades. High prices encourage manufacturers to build more capacity. The problem is that new factories take years to finish. By the time they’re ready, demand has often cooled, turning shortages into oversupply.
Analysts expect HBM to remain tight through 2030, giving producers several years of unusually strong conditions.
What comes next depends on two things:
1 how much new capacity is built—and
2 whether AI demand keeps growing fast enough to fill it.
That’s why Micron’s move toward five-year supply agreements is so closely watched. The industry is trying to smooth a cycle that has historically been anything but smooth.
Don’t forget to cast your vote 👇
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Blue Origin Just Raised $10 Billion.
After 26 years of self-funding…
For more than two decades, Blue Origin operated differently from almost every major technology company.
→ No venture capital rounds.
→ No IPO.
→ No outside shareholders.
Jeff Bezos funded the company himself—investing an estimated $28 billion from sales of Amazon stock while keeping complete control of the business.
Today, Blue Origin announced its first-ever external funding round, raising $10 billion at a $130 billion valuation.
Here is the story. ⇩
SPONSOR BREAK presented by MarketWise*
“Biggest Breakthrough in the History of Stock Trading”
A Maryland computer whiz recently created a new form of “Predictive AI” that can foresee the future prices of any of 2,334 stocks – to the penny – with 73% historical accuracy. It’s led to a huge anomaly that would’ve turned every $5,000 into over $15,000 in the 16 months following its creation in one study.
Click here for your free demo here (no purchase required).
The Valuation Gap.
Only weeks after SpaceX’s blockbuster public debut demonstrated the enormous investor appetite for commercial space, Blue Origin decided the market was finally ready.
The contrast between the two companies is remarkable.
✱ Blue Origin was founded in 2000—nearly two years before SpaceX.
Today, it’s valued at roughly $130 billion – ≈ 1/15 of its younger rival.
✱ SpaceX is worth about $2 trillion.
The difference reflects two companies that have followed very different paths over the past two decades.
SPONSOR BREAK presented by MarketWise*
Will You Survive the MAR-A-LAGO RESET?
Bloomberg calls it “a dire shift of fortunes for America” and The Wall Street Journal calls it a “New World Order.” Now, Dr. David Eifrig – a 40-year market veteran who traded through Black Monday and has recommended more than a dozen triple-digit winners – warns that you must make one of the most important financial decisions of your lifetime today. He strongly recommends this ONE step to potentially secure your retirement.
The round — who put in what
“We finally have enough visibility into our future and our financial success. It’s a good time actually to start thinking about the future and bring on some other outside investors.” — Jeff Bezos, CNBC interview, May 2026
SPONSOR BREAK presented by BrownstoneResearch*
Did Elon Musk Just Open America’s Last Retirement Window?
Jeff Brown believes by the end of this month, this Elon Musk new AI breakthrough will collide…
With a powerful market prophecy that has correctly predicted some of the biggest market booms going back to 1950…
Giving Americans a rare and perhaps last chance to turn a small stake into an entire six-figure nest egg in the next 12-18 months.
The last time something like this happened, investors had a chance to turn a small stake of $10,000 into as much as $366,000 in just 14 months.
Where the $10 Billion Is Going.
Blue Origin isn’t raising capital to build an ecosystem designed to compete across several parts of the space economy.
1 Launch – At its core, Blue Origin remains a launch company. New Glenn, its flagship heavy-lift rocket, is expected to carry commercial, government, and national security payloads while supporting future lunar missions.
2 Connectivity – Beyond rockets, the company plans to build a satellite communications network focused on enterprise and government customers—a different market from Starlink’s consumer-first strategy.
3 Space Infrastructure – Blue Origin is also investing in long-term orbital infrastructure, including proposed space-based data centers and AI computing platforms that could one day process workloads beyond Earth.
4 The Moon – Government programs remain a cornerstone of the business. Through NASA’s Artemis program, Blue Origin is developing lunar landing systems and other technologies aimed at supporting a long-term human presence on the Moon.
SPONSOR BREAK presented by ParadigmPress*
Move your money NOW! – Former CIA Advisor
He predicted the 2008 financial crisis…
He predicted Trump’s election in 2016….
He even predicted the rise of COVID-19 writing:
“The chance we don’t have something on the scale of a national pandemic in the next few years is near zero”
That was three months before the first reported case.
If he’s right again, God Bless America…
Because this crisis will be tectonic in scale…and it’s going to begin with the bubble popping in AI.
Why Now?
Following SpaceX’s IPO, investor enthusiasm for the commercial space sector accelerated. Reuters noted that public market demand for SpaceX helped lift expectations for the value of privately held space companies, creating one of the strongest fundraising environments the industry has seen in years.
✱ Blue Origin appears to have taken advantage of that window.
After 26 years of relying almost entirely on Jeff Bezos’ personal fortune, Blue Origin chose this moment to bring in outside capital.
The next question is why.
Unlike SpaceX, Blue Origin is still in the investment phase.
→ SpaceX already has a business generating billions of dollars in recurring cash flow through Starlink, helping finance rockets, satellites, and AI infrastructure.
→ Blue Origin is still building many of those businesses.
Its satellite communications network, orbital computing ambitions, and lunar initiatives all require significant investment before they become meaningful revenue generators.
The $10 billion isn’t simply funding today’s operations.
It’s financing the next stage of the company’s growth.
Bezos is also pursuing a different strategy than Musk.
→ Rather than building every part of the space ecosystem inside one company, his long-term satellite ambitions are split between Blue Origin and Amazon, with each targeting different markets.
Whether that ultimately proves more effective than SpaceX’s integrated model remains an open question.
⚠️ One Challenge Remains…
The funding round doesn’t erase Blue Origin’s biggest near-term hurdle.
In late May, the company’s New Glenn rocket was damaged during a static hot-fire test at Cape Canaveral, leaving its primary launch facility out of service while the investigation continues.
Blue Origin says it expects New Glenn to return to flight before the end of the year, but the exact timeline remains uncertain until the cause is identified and repairs are completed.
For investors, the message is: The company has secured fresh capital and ambitious long-term plans—but much of its future still depends on successfully returning its flagship launch program to regular operations.
Space Sector Today…
→ AST SpaceMobile (ASTS) +3.5% — Moved higher as investors viewed Blue Origin’s funding as supportive of future launch activity. AST SpaceMobile is a Blue Origin launch customer.
→ Voyager Technologies (VOYG) +5% — Led the sector, extending recent momentum as investors continued rotating into commercial space names.
→ Intuitive Machines (LUNR) Slightly Higher — Traded modestly higher as investors remained focused on its NASA contracts and lunar exploration business.
→ Rocket Lab (RKLB) <+1% — Largely unchanged after last week’s strong rally, with investors pausing after recent gains.
→ SpaceX (SPCX) -0.37% — Hovered near its IPO price as the market balanced long-term optimism against near-term valuation concerns.
→ Firefly Aerospace (FLY) -3% — The weakest performer in the group, giving back part of last week’s advance.
→ Planet Labs (PL) -2% — Pulled back as investors took profits following a strong run.
Don’t forget to cast your vote 👇
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Your 401(k) Just Bought SpaceX.
Ownership by Default.
One of today’s biggest SpaceX developments happened inside millions of retirement accounts.
As SpaceX officially joined the Nasdaq-100, index funds that track the benchmark became automatic buyers. That means many investors now own a small piece of SpaceX without ever placing a trade.
And…the stock still fell 6.83% (again).
Then came the second headline.
Morgan Stanley initiated coverage with a $300 price target—the highest among major Wall Street banks—implying nearly 90% upside from Monday’s close.
One story is about ownership.
The other is about expectations.
Together, they explain why SpaceX remains one of the market’s most closely watched stocks.
Here is the story. ⇩
SPONSOR BREAK presented by BrownstoneResearch*
What Do Trump, Buffett, and Bezos Know That We Don’t?
Take at look at this stack of papers covered in black marker:
What you’re looking at are the 750 White House files President Trump quietly “redacted” behind closed doors.
But what happened next was even more peculiar…
You see, directly after deleting federal files that had been in place since Jimmy Carter was in office…
President Donald Trump wrote a $300 million check to a controversial company located in Foothill Ranch, California.
Strangely enough, he didn’t utter a single word about it to the cameras. Even more fascinating, it turns out, Trump’s not acting alone…
If you follow the money trail…
Jeff Bezos, Warren Buffett, Bill Gates… even an up-and-coming tech titan who the late Charlie Munger referred to as, “the new emperor of the world”… have all poured billions into the same area.
How SpaceX Ended Up in Your 401(k).
If your retirement savings are invested in a Nasdaq-100 index fund or a target-date fund, there’s a good chance you became a SpaceX shareholder today—without buying a single share.
How Much SpaceX Do You Actually Own?
Probably much less than you think.
Unlike most companies entering the index, SpaceX has a very small public float. Since the Nasdaq-100 weights companies by free-float market capitalization, not total company value, SpaceX enters the index at less than 1%.
For a typical retirement portfolio, that translates into roughly:
→ ~0.15% – Total U.S. market index fund
→ ~0.09% – Typical 60/40 target-date retirement fund
→ 0% – S&P 500 index fund (SpaceX isn’t currently eligible for inclusion.)
In other words, the exposure is extremely small.
That allocation could gradually increase over time as additional shares become eligible to trade and SpaceX’s public float expands.
For now, however, its impact on a diversified retirement portfolio is minimal.
SPONSOR BREAK presented by BrownstoneResearch*
Forget SpaceX, Elon’s M.A.G.I. Could Be Bigger
While everyone was distracted with the recent SpaceX IPO…
Elon Musk quietly filed a patent with the U.S. Patent and Trademark Office to protect what Jeff Brown believes will be his next breakthrough…
Something he called “the greatest tech invention in history.”
Click here to see the details because Elon is predicting this new AI breakthrough will unleash a $1 quadrillion new wealth wave.
⚠️ What Should You Do?
1 Understand what you own.
Most retirement plans invest in strategies, not individual stock ideas. When you choose an index fund, you’re choosing a rules-based portfolio that automatically adjusts as the index changes.
2 Check your holdings.
Not every retirement account follows the Nasdaq-100. Some track the S&P 500, others the total U.S. market, while many target-date funds combine several different funds into one portfolio.
3 Prefer not to own SpaceX?
S&P 500 index funds remain an alternative.
SpaceX doesn’t currently qualify for the index because it has not yet met the S&P’s profitability and seasoning requirements, making inclusion unlikely before mid-2027 at the earliest.
SPONSOR BREAK presented by ParadigmPress*
Move your money NOW! – Former CIA Advisor
He predicted the 2008 financial crisis…
He predicted Trump’s election in 2016….
He even predicted the rise of COVID-19 writing:
“The chance we don’t have something on the scale of a national pandemic in the next few years is near zero”
That was three months before the first reported case.
If he’s right again, God Bless America…
Because this crisis will be tectonic in scale…and it’s going to begin with the bubble popping in AI.
Morgan Stanley’s $300 call.
Morgan Stanley is the most bullish major bank yet
→ $300 target.
→ 87% upside.
→ A range from $75 to $600.
Here are the four pillars of their argument:
SPONSOR BREAK presented by MarketWise*
World’s Largest Investors Are Moving Their Money (Not Into AI)
While the media distracts you with stories about the next big AI IPO… The world’s largest investors are moving their money into one asset – at the fastest pace in a generation. This asset has crushed the S&P 500’s return over the past 12 months… More than TRIPLED the S&P 500’s return in 2025… and has outperformed the S&P 500 over the past 25 years by more than 1,100 percentage points. According to one Wall Street veteran, with over 40 years of professional investing experience… the biggest gains could be still ahead. That’s why he’s urging you to make one money move now.
The revenue trajectory Morgan Stanley is modelling.
→ $45 billion this year.
→ $319 billion by 2030.
→ $3.3 trillion by 2040.
→ Operating margins approaching 59%.
⚠️ Buried In The Footnotes…
Morgan Stanley’s outlook is highly optimistic—but it isn’t unconditional.
The report estimates that SpaceX’s expansion could require up to $300 billion in annual capital spending by 2031, with the company raising an average of roughly $84 billion a year between 2027 and 2034 to help finance that growth.
Jonas is explicit about the risk.
If capital markets become less willing to provide that funding, SpaceX could face difficult choices:
→ issue additional shares,
→ slow investment, or
→ delay parts of its long-term expansion.
In other words, Morgan Stanley’s bull case depends on more than technological execution.
It also assumes continued access to enormous amounts of capital over many years.
The Disagreement Is The Story.
It’s rare to see such a wide range of opinions on a company of this size. On the same stock, analysts value SpaceX anywhere from $63 to $300.
That isn’t simply a difference in valuation.
It’s a difference in assumptions.
The bulls believe SpaceX will successfully scale Starship, Starlink, and its AI business into one of the world’s most valuable technology platforms.
The bears question whether that future can be executed on the timeline—and at the scale—the market is already expecting.
At roughly $152 per share, SpaceX trades below most Wall Street targets but well above Morningstar’s estimate of fair value.
The market debate now is how much of that extraordinary future should already be reflected in today’s price.
Don’t forget to cast your vote 👇
Lesson Of The Day:
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Also, help your friends blossom this spring! Share us with them.
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Got a market or stock you want us to analyze next?
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Only 4% Traded Today.
SpaceX joined the Nasdaq 100. → Billions of dollars were forced to buy.
One of SpaceX’s biggest scheduled catalysts finally arrived today.
The company officially joined the Nasdaq 100, triggering an estimated $4.3 billion of automatic buying from index funds required to own the stock.
Yet despite that guaranteed demand, SpaceX fell 3.4% (from Friday’s close).
At first glance, that doesn’t make much sense.
Until you look at the float.
Here is why — and why the float math is the number that matters most between now and December.
⇩
SPONSOR BREAK presented by BrownstoneResearch*
What Do Trump, Buffett, and Bezos Know That We Don’t?
Take at look at this stack of papers covered in black marker:
What you’re looking at are the 750 White House files President Trump quietly “redacted” behind closed doors.
But what happened next was even more peculiar…
You see, directly after deleting federal files that had been in place since Jimmy Carter was in office…
President Donald Trump wrote a $300 million check to a controversial company located in Foothill Ranch, California.
Strangely enough, he didn’t utter a single word about it to the cameras. Even more fascinating, it turns out, Trump’s not acting alone…
If you follow the money trail…
Jeff Bezos, Warren Buffett, Bill Gates… even an up-and-coming tech titan who the late Charlie Munger referred to as, “the new emperor of the world”… have all poured billions into the same area.
The Number That Explains The Rest Of 2026.
Today’s trading only tells part of the story.
That’s because only about 4% of all SpaceX shares are currently available to trade.
The remaining 96% are still locked up—held by insiders, early investors, and Elon Musk under post-IPO restrictions.
That creates an unusually tight market.
With so few shares changing hands, even modest buying or selling can have an outsized impact on the stock price. It’s one of the reasons SpaceX has experienced such sharp swings since going public.
But that won’t last forever.
As lockup periods begin to expire, the number of shares eligible to trade could climb toward 40% by December. That doesn’t mean all of those shares will be sold. It means the potential supply of stock available to the market will increase significantly.
The Nasdaq 100 inclusion happened today.
The changing float may be the story that shapes the rest of 2026.
SPONSOR BREAK presented by BrownstoneResearch*
Forget SpaceX, Elon’s M.A.G.I. Could Be Bigger
While everyone was distracted with the recent SpaceX IPO…
Elon Musk quietly filed a patent with the U.S. Patent and Trademark Office to protect what Jeff Brown believes will be his next breakthrough…
Something he called “the greatest tech invention in history.”
Click here to see the details because Elon is predicting this new AI breakthrough will unleash a $1 quadrillion new wealth wave.
Every unlock date — in full.
⚠️ One Important Distinction
Eligible doesn’t mean sold.
As lockup restrictions expire, insiders gain the option to sell their shares—not the obligation. Many may continue holding if they remain confident in the company’s long-term prospects.
That’s why a float increasing from 4% to potentially 36% doesn’t mean 36% of the company suddenly hits the market.
It means the pool of shares available to trade becomes much larger.
Until now, SpaceX has traded with an unusually limited supply of stock. Between now and December, that supply constraint gradually begins to ease.
Whether insiders actually sell—or continue holding—will determine how much of that additional supply reaches the market.
SPONSOR BREAK presented by ParadigmPress*
Move your money NOW! – Former CIA Advisor
He predicted the 2008 financial crisis…
He predicted Trump’s election in 2016….
He even predicted the rise of COVID-19 writing:
“The chance we don’t have something on the scale of a national pandemic in the next few years is near zero”
That was three months before the first reported case.
If he’s right again, God Bless America…
Because this crisis will be tectonic in scale…and it’s going to begin with the bubble popping in AI.
The Market’s Verdict.
Nasdaq 100 inclusion answered one question.
Would automatic buying from index funds be enough to move the stock?
The answer was no.
While passive funds added SpaceX as expected, the stock still finished lower, suggesting that investors were focused on forces beyond a single calendar event.
Part of the explanation is simple arithmetic.
Even billions of dollars in mechanical buying represent only a small fraction of a company valued at more than $2 trillion. At the same time, broader weakness across high-growth technology stocks and growing attention to the upcoming lockup schedule limited the impact of that demand.
Today’s inclusion wasn’t meaningless.
It confirmed that scheduled catalysts don’t exist in isolation. Markets weigh them against everything else already on the horizon—and right now, investors appear to be looking further ahead than today’s index addition.
SPONSOR BREAK presented by MarketWise*
World’s Largest Investors Are Moving Their Money (Not Into AI)
While the media distracts you with stories about the next big AI IPO… The world’s largest investors are moving their money into one asset – at the fastest pace in a generation. This asset has crushed the S&P 500’s return over the past 12 months… More than TRIPLED the S&P 500’s return in 2025… and has outperformed the S&P 500 over the past 25 years by more than 1,100 percentage points. According to one Wall Street veteran, with over 40 years of professional investing experience… the biggest gains could be still ahead. That’s why he’s urging you to make one money move now.
The Bull Case.
Despite Monday’s pullback, the broader investment thesis hasn’t changed.
Wall Street continues to see upside, with analysts assigning an average price target of $188.57, while retail sentiment remains broadly optimistic.
The underlying thesis — Starlink as a global telecom utility, xAI as a core AI franchise, Starship as Earth-to-orbit compute infrastructure — has not changed.
SpaceX still launches more than 80% of the world’s mass to orbit, operates roughly 9,600 satellites across 164 countries, and holds the Anthropic and Google compute contracts.
The real question is valuation.
⚠️ How much of that future is already reflected in a company worth $2.13 trillion today?
Bear Case.
→ A $2.13T valuation leaves little room for disappointment. Investors are paying for years of future success, not today’s financial results.
→ Execution still matters. Starship, AI infrastructure, and other long-term growth initiatives must deliver on ambitious expectations.
→ Losses remain elevated. Q1 net losses widened to $4.3 billion as investment in AI and next-generation technologies accelerated.
→ The float story isn’t over. Up to 4.7 billion shares become eligible to trade by December, increasing potential supply over time.
→ Not every growth driver is locked in. Some AI compute agreements can be renewed or terminated on relatively short notice, making portions of future revenue less predictable than traditional long-term infrastructure contracts.
Don’t forget to cast your vote 👇
Lesson Of The Day:
Was this email forwarded to you? Don’t miss out on future stories — subscribe using the button below.
Also, help your friends blossom this spring! Share us with them.
💬 We Want To Hear Your Story:
Got a market or stock you want us to analyze next?
Just drop your request in the comments here.
P.S. – If you no longer want to receive occasional emails from us and you want to unsubscribe, click here 👉 “Unsubscribe” . Thank you!
Only 4% Traded Today.
SpaceX joined the Nasdaq 100. → Billions of dollars were forced to buy.
One of SpaceX’s biggest scheduled catalysts finally arrived today.
The company officially joined the Nasdaq 100, triggering an estimated $4.3 billion of automatic buying from index funds required to own the stock.
Yet despite that guaranteed demand, SpaceX fell 3.4% (from Friday’s close).
At first glance, that doesn’t make much sense.
Until you look at the float.
Here is why — and why the float math is the number that matters most between now and December.
⇩
SPONSOR BREAK presented by BrownstoneResearch*
What Do Trump, Buffett, and Bezos Know That We Don’t?
Take at look at this stack of papers covered in black marker:
What you’re looking at are the 750 White House files President Trump quietly “redacted” behind closed doors.
But what happened next was even more peculiar…
You see, directly after deleting federal files that had been in place since Jimmy Carter was in office…
President Donald Trump wrote a $300 million check to a controversial company located in Foothill Ranch, California.
Strangely enough, he didn’t utter a single word about it to the cameras. Even more fascinating, it turns out, Trump’s not acting alone…
If you follow the money trail…
Jeff Bezos, Warren Buffett, Bill Gates… even an up-and-coming tech titan who the late Charlie Munger referred to as, “the new emperor of the world”… have all poured billions into the same area.
The Number That Explains The Rest Of 2026.
Today’s trading only tells part of the story.
That’s because only about 4% of all SpaceX shares are currently available to trade.
The remaining 96% are still locked up—held by insiders, early investors, and Elon Musk under post-IPO restrictions.
That creates an unusually tight market.
With so few shares changing hands, even modest buying or selling can have an outsized impact on the stock price. It’s one of the reasons SpaceX has experienced such sharp swings since going public.
But that won’t last forever.
As lockup periods begin to expire, the number of shares eligible to trade could climb toward 40% by December. That doesn’t mean all of those shares will be sold. It means the potential supply of stock available to the market will increase significantly.
The Nasdaq 100 inclusion happened today.
The changing float may be the story that shapes the rest of 2026.
SPONSOR BREAK presented by BrownstoneResearch*
Forget SpaceX, Elon’s M.A.G.I. Could Be Bigger
While everyone was distracted with the recent SpaceX IPO…
Elon Musk quietly filed a patent with the U.S. Patent and Trademark Office to protect what Jeff Brown believes will be his next breakthrough…
Something he called “the greatest tech invention in history.”
Click here to see the details because Elon is predicting this new AI breakthrough will unleash a $1 quadrillion new wealth wave.
Every unlock date — in full.
⚠️ One Important Distinction
Eligible doesn’t mean sold.
As lockup restrictions expire, insiders gain the option to sell their shares—not the obligation. Many may continue holding if they remain confident in the company’s long-term prospects.
That’s why a float increasing from 4% to potentially 36% doesn’t mean 36% of the company suddenly hits the market.
It means the pool of shares available to trade becomes much larger.
Until now, SpaceX has traded with an unusually limited supply of stock. Between now and December, that supply constraint gradually begins to ease.
Whether insiders actually sell—or continue holding—will determine how much of that additional supply reaches the market.
SPONSOR BREAK presented by ParadigmPress*
Move your money NOW! – Former CIA Advisor
He predicted the 2008 financial crisis…
He predicted Trump’s election in 2016….
He even predicted the rise of COVID-19 writing:
“The chance we don’t have something on the scale of a national pandemic in the next few years is near zero”
That was three months before the first reported case.
If he’s right again, God Bless America…
Because this crisis will be tectonic in scale…and it’s going to begin with the bubble popping in AI.
The Market’s Verdict.
Nasdaq 100 inclusion answered one question.
Would automatic buying from index funds be enough to move the stock?
The answer was no.
While passive funds added SpaceX as expected, the stock still finished lower, suggesting that investors were focused on forces beyond a single calendar event.
Part of the explanation is simple arithmetic.
Even billions of dollars in mechanical buying represent only a small fraction of a company valued at more than $2 trillion. At the same time, broader weakness across high-growth technology stocks and growing attention to the upcoming lockup schedule limited the impact of that demand.
Today’s inclusion wasn’t meaningless.
It confirmed that scheduled catalysts don’t exist in isolation. Markets weigh them against everything else already on the horizon—and right now, investors appear to be looking further ahead than today’s index addition.
SPONSOR BREAK presented by MarketWise*
World’s Largest Investors Are Moving Their Money (Not Into AI)
While the media distracts you with stories about the next big AI IPO… The world’s largest investors are moving their money into one asset – at the fastest pace in a generation. This asset has crushed the S&P 500’s return over the past 12 months… More than TRIPLED the S&P 500’s return in 2025… and has outperformed the S&P 500 over the past 25 years by more than 1,100 percentage points. According to one Wall Street veteran, with over 40 years of professional investing experience… the biggest gains could be still ahead. That’s why he’s urging you to make one money move now.
The Bull Case.
Despite Monday’s pullback, the broader investment thesis hasn’t changed.
Wall Street continues to see upside, with analysts assigning an average price target of $188.57, while retail sentiment remains broadly optimistic.
The underlying thesis — Starlink as a global telecom utility, xAI as a core AI franchise, Starship as Earth-to-orbit compute infrastructure — has not changed.
SpaceX still launches more than 80% of the world’s mass to orbit, operates roughly 9,600 satellites across 164 countries, and holds the Anthropic and Google compute contracts.
The real question is valuation.
⚠️ How much of that future is already reflected in a company worth $2.13 trillion today?
Bear Case.
→ A $2.13T valuation leaves little room for disappointment. Investors are paying for years of future success, not today’s financial results.
→ Execution still matters. Starship, AI infrastructure, and other long-term growth initiatives must deliver on ambitious expectations.
→ Losses remain elevated. Q1 net losses widened to $4.3 billion as investment in AI and next-generation technologies accelerated.
→ The float story isn’t over. Up to 4.7 billion shares become eligible to trade by December, increasing potential supply over time.
→ Not every growth driver is locked in. Some AI compute agreements can be renewed or terminated on relatively short notice, making portions of future revenue less predictable than traditional long-term infrastructure contracts.
Don’t forget to cast your vote 👇
Lesson Of The Day:
Was this email forwarded to you? Don’t miss out on future stories — subscribe using the button below.
Also, help your friends blossom this spring! Share us with them.
💬 We Want To Hear Your Story:
Got a market or stock you want us to analyze next?
Just drop your request in the comments here.
P.S. – If you no longer want to receive occasional emails from us and you want to unsubscribe, click here 👉 “Unsubscribe” . Thank you!
Happy 250th, America!
American Lesson.
The biggest market lesson in American history didn’t begin with a stock. It began with a tax.
Long before Wall Street became the world’s financial capital, a dispute over trade, taxation, and economic freedom helped shape America as a nation.
For centuries, wealth had largely been viewed as something governments controlled and empires accumulated.
The events of 1776 began to turn that thinking on its head.
→ America’s founders argued for political freedom – Power doesn’t flow from the government to the people. It flows from the people to the government. Essentially a social contract.
→ Adam Smith argued for economic freedom – Prosperity isn’t created by hoarding wealth. It’s created when people are free to trade, specialize, compete, and pursue their own interests.
Together, they helped redefine the relationship between governments, markets, and individuals.
Here is the story.
⇩
SPONSOR BREAK presented by BrownstoneResearch*
Forget SpaceX, Elon’s M.A.G.I. Could Be Bigger
While everyone was distracted with the recent SpaceX IPO…
Elon Musk quietly filed a patent with the U.S. Patent and Trademark Office to protect what Jeff Brown believes will be his next breakthrough…
Something he called “the greatest tech invention in history.”
Click here to see the details because Elon is predicting this new AI breakthrough will unleash a $1 quadrillion new wealth wave.
The Boston Tea Party Was Also a Market Story…
The Boston Tea Party of December 1773 is remembered as a protest against taxation without representation. That framing is accurate but incomplete.
The deeper grievance was about market competition — specifically, the British Parliament granting the East India Company special tax privileges that gave it an unfair advantage over colonial tea merchants who had been importing and trading freely for years.
Colonial merchants weren’t anti-trade. They were, by the 1760s, already trading extensively beyond the British Empire — as far as China and South America. What they objected to was a government created advantage for one connected company that made it impossible to compete on equal terms.
SPONSOR BREAK presented by ParadigmPress*
Move your money NOW! – Former CIA Advisor
He predicted the 2008 financial crisis…
He predicted Trump’s election in 2016….
He even predicted the rise of COVID-19 writing:
“The chance we don’t have something on the scale of a national pandemic in the next few years is near zero”
That was three months before the first reported case.
If he’s right again, God Bless America…
Because this crisis will be tectonic in scale…and it’s going to begin with the bubble popping in AI.
How Developed the Colonial Economy Actually Was.
By the 1760s, American colonists were already global traders — reaching China, South America, and the Caribbean.
One of the underrated facts about the American Revolution is how economically sophisticated the colonies already were before independence.
This wasn’t a collection of small farming communities suddenly thrust into self-governance.
By the 1760s, colonial merchants had built trading networks that extended far beyond the British Empire.
The colonists didn’t see themselves as subjects asking for economic rights but, instead as merchants and traders who already had those rights in practice — and were having them systematically taken away.
The revolution was, in part, a defense of an economic reality that already existed against a legal structure that was increasingly incompatible with it.
SPONSOR BREAK presented by MarketWise*
World’s Largest Investors Are Moving Their Money (Not Into AI)
While the media distracts you with stories about the next big AI IPO… The world’s largest investors are moving their money into one asset – at the fastest pace in a generation. This asset has crushed the S&P 500’s return over the past 12 months… More than TRIPLED the S&P 500’s return in 2025… and has outperformed the S&P 500 over the past 25 years by more than 1,100 percentage points. According to one Wall Street veteran, with over 40 years of professional investing experience… the biggest gains could be still ahead. That’s why he’s urging you to make one money move now.
Published The Same Year.
The Wealth of Nations was a 900-page argument against the same trade restrictions the colonists were rebelling against.
Adam Smith had been thinking about The Wealth of Nations for more than a decade before it was published.
His central argument was directed at the dominant economic theory of his era — mercantilism — which held that a nation’s wealth depended on accumulating gold and silver, controlling trade routes, and protecting domestic industries through tariffs and monopolies.
The East India Company, with its government-granted exclusive trading rights, was mercantilism in its most visible form.
Smith argued the opposite:
⚠️ Nations grew wealthier through specialization, free exchange, and the division of labor — not through government control of who could trade what with whom.
“No regulation can increase the quantity of industry in any country beyond what its capital can maintain. It can only divert part of it into a direction into which it might not otherwise have gone.“
~ Adam Smith, The Wealth of Nations, 1776
SPONSOR BREAK presented by Marketwise*
Land of the FREE! Chaikin 4th of July Flash Sale Expires Soon
It’s not too late to get in on Marc Chaikin’s huge 4th of July flash sale. Until Monday only, he’s offering 74% off the Power Gauge Report PLUS a year of free access to his Power Gauge Rating system.
For a taste of Marc’s legendary stock-picking skills, access Marc’s most up-to-date stock Hotlist and Hitlist — PLUS your free year of his system – by clicking here.
What America Built.
Within a generation of independence, the United States had become one of the fastest-growing economies in the world.
The merchant networks the colonists had already built — reaching China, the Caribbean, South America — became the foundation of something far larger.
By 1800, American merchant shipping was among the most active in the Atlantic world.
By 1900, the United States had become the largest economy on earth.
That trajectory — from a collection of colonies with legitimate economic grievances to the world’s dominant economic power in roughly 125 years — is one of the more extraordinary runs in economic history.
The founders who signed the Declaration had no way of knowing what they were setting in motion. They knew what they were escaping.
What came after was built by the generations that followed.
How Thirteen Separate Economies Became One.
When the Revolution ended in 1783, the thirteen states were economically fragmented.
Each state had its own trade barriers, its own tariffs on goods from neighboring states, its own currency, its own rules about who could do business there.
New York was taxing New Jersey goods. Connecticut was taxing Massachusetts goods. A country that had just fought a war against trade restrictions was busy recreating them between its own states.
Madison saw this clearly — and understood it as an existential threat to everything the Revolution had been about. He became one of the leading advocates for replacing the Articles of Confederation with a stronger Constitution.
A new constitutional framework was created where prosperity could grow through the free production, trade, and exchange of goods across a single nation, rather than being constrained by competing state barriers and conflicting commercial rules.
The United States became the largest single market in human history.
No other country had built anything like it.
It was not an accident of geography or resources. It was a constitutional decision made deliberately, by people who understood exactly what they were building.
The Founders’ Greatest Asset Was People
The founders didn’t simply believe they had discovered a better system of government.
They believed they had discovered something even rarer:
a society where ordinary people could build extraordinary lives.
No one embodied that idea more than Benjamin Franklin.
Born the son of a Boston candle maker, Franklin became a printer, publisher, scientist, inventor, diplomat, and one of America’s Founding Fathers. His story wasn’t remarkable because he was unusually talented—although he certainly was. It was remarkable because colonial America offered a level of social and economic mobility that was still uncommon across much of Europe, where birth, title, and family connections often determined opportunity.
To Franklin, that was America’s greatest competitive advantage.
Not its land.
Not its resources.
Its people.
People who could start businesses, learn trades, invent, invest, and improve their lives through their own effort rather than inherited privilege.
That belief runs quietly through the Declaration of Independence.
Political freedom was never viewed as an end in itself. It was the condition that allowed individuals to build, create, trade, and prosper on their own terms.
250 years later, every entrepreneur who starts a company, every investor who allocates capital, and every trader who risks their own money is participating in that same tradition.
Markets are ultimately built by people.
The founders understood that long before there was a market to measure.
Don’t forget to cast your vote 👇
Lesson Of The Day:
Was this email forwarded to you? Don’t miss out on future stories — subscribe using the button below.
Also, help your friends blossom this spring! Share us with them.
💬 We Want To Hear Your Story:
Got a market or stock you want us to analyze next?
Just drop your request in the comments here.
P.S. – If you no longer want to receive occasional emails from us and you want to unsubscribe, click here 👉 “Unsubscribe” . Thank you!
Happy 250th, America!
American Lesson.
The biggest market lesson in American history didn’t begin with a stock. It began with a tax.
Long before Wall Street became the world’s financial capital, a dispute over trade, taxation, and economic freedom helped shape America as a nation.
For centuries, wealth had largely been viewed as something governments controlled and empires accumulated.
The events of 1776 began to turn that thinking on its head.
→ America’s founders argued for political freedom – Power doesn’t flow from the government to the people. It flows from the people to the government. Essentially a social contract.
→ Adam Smith argued for economic freedom – Prosperity isn’t created by hoarding wealth. It’s created when people are free to trade, specialize, compete, and pursue their own interests.
Together, they helped redefine the relationship between governments, markets, and individuals.
Here is the story.
⇩
SPONSOR BREAK presented by BrownstoneResearch*
Forget SpaceX, Elon’s M.A.G.I. Could Be Bigger
While everyone was distracted with the recent SpaceX IPO…
Elon Musk quietly filed a patent with the U.S. Patent and Trademark Office to protect what Jeff Brown believes will be his next breakthrough…
Something he called “the greatest tech invention in history.”
Click here to see the details because Elon is predicting this new AI breakthrough will unleash a $1 quadrillion new wealth wave.
The Boston Tea Party Was Also a Market Story…
The Boston Tea Party of December 1773 is remembered as a protest against taxation without representation. That framing is accurate but incomplete.
The deeper grievance was about market competition — specifically, the British Parliament granting the East India Company special tax privileges that gave it an unfair advantage over colonial tea merchants who had been importing and trading freely for years.
Colonial merchants weren’t anti-trade. They were, by the 1760s, already trading extensively beyond the British Empire — as far as China and South America. What they objected to was a government created advantage for one connected company that made it impossible to compete on equal terms.
SPONSOR BREAK presented by ParadigmPress*
Move your money NOW! – Former CIA Advisor
He predicted the 2008 financial crisis…
He predicted Trump’s election in 2016….
He even predicted the rise of COVID-19 writing:
“The chance we don’t have something on the scale of a national pandemic in the next few years is near zero”
That was three months before the first reported case.
If he’s right again, God Bless America…
Because this crisis will be tectonic in scale…and it’s going to begin with the bubble popping in AI.
How Developed the Colonial Economy Actually Was.
By the 1760s, American colonists were already global traders — reaching China, South America, and the Caribbean.
One of the underrated facts about the American Revolution is how economically sophisticated the colonies already were before independence.
This wasn’t a collection of small farming communities suddenly thrust into self-governance.
By the 1760s, colonial merchants had built trading networks that extended far beyond the British Empire.
The colonists didn’t see themselves as subjects asking for economic rights but, instead as merchants and traders who already had those rights in practice — and were having them systematically taken away.
The revolution was, in part, a defense of an economic reality that already existed against a legal structure that was increasingly incompatible with it.
SPONSOR BREAK presented by MarketWise*
World’s Largest Investors Are Moving Their Money (Not Into AI)
While the media distracts you with stories about the next big AI IPO… The world’s largest investors are moving their money into one asset – at the fastest pace in a generation. This asset has crushed the S&P 500’s return over the past 12 months… More than TRIPLED the S&P 500’s return in 2025… and has outperformed the S&P 500 over the past 25 years by more than 1,100 percentage points. According to one Wall Street veteran, with over 40 years of professional investing experience… the biggest gains could be still ahead. That’s why he’s urging you to make one money move now.
Published The Same Year.
The Wealth of Nations was a 900-page argument against the same trade restrictions the colonists were rebelling against.
Adam Smith had been thinking about The Wealth of Nations for more than a decade before it was published.
His central argument was directed at the dominant economic theory of his era — mercantilism — which held that a nation’s wealth depended on accumulating gold and silver, controlling trade routes, and protecting domestic industries through tariffs and monopolies.
The East India Company, with its government-granted exclusive trading rights, was mercantilism in its most visible form.
Smith argued the opposite:
⚠️ Nations grew wealthier through specialization, free exchange, and the division of labor — not through government control of who could trade what with whom.
“No regulation can increase the quantity of industry in any country beyond what its capital can maintain. It can only divert part of it into a direction into which it might not otherwise have gone.“
~ Adam Smith, The Wealth of Nations, 1776
SPONSOR BREAK presented by Marketwise*
Land of the FREE! Chaikin 4th of July Flash Sale Expires Soon
It’s not too late to get in on Marc Chaikin’s huge 4th of July flash sale. Until Monday only, he’s offering 74% off the Power Gauge Report PLUS a year of free access to his Power Gauge Rating system.
For a taste of Marc’s legendary stock-picking skills, access Marc’s most up-to-date stock Hotlist and Hitlist — PLUS your free year of his system – by clicking here.
What America Built.
Within a generation of independence, the United States had become one of the fastest-growing economies in the world.
The merchant networks the colonists had already built — reaching China, the Caribbean, South America — became the foundation of something far larger.
By 1800, American merchant shipping was among the most active in the Atlantic world.
By 1900, the United States had become the largest economy on earth.
That trajectory — from a collection of colonies with legitimate economic grievances to the world’s dominant economic power in roughly 125 years — is one of the more extraordinary runs in economic history.
The founders who signed the Declaration had no way of knowing what they were setting in motion. They knew what they were escaping.
What came after was built by the generations that followed.
How Thirteen Separate Economies Became One.
When the Revolution ended in 1783, the thirteen states were economically fragmented.
Each state had its own trade barriers, its own tariffs on goods from neighboring states, its own currency, its own rules about who could do business there.
New York was taxing New Jersey goods. Connecticut was taxing Massachusetts goods. A country that had just fought a war against trade restrictions was busy recreating them between its own states.
Madison saw this clearly — and understood it as an existential threat to everything the Revolution had been about. He became one of the leading advocates for replacing the Articles of Confederation with a stronger Constitution.
A new constitutional framework was created where prosperity could grow through the free production, trade, and exchange of goods across a single nation, rather than being constrained by competing state barriers and conflicting commercial rules.
The United States became the largest single market in human history.
No other country had built anything like it.
It was not an accident of geography or resources. It was a constitutional decision made deliberately, by people who understood exactly what they were building.
The Founders’ Greatest Asset Was People
The founders didn’t simply believe they had discovered a better system of government.
They believed they had discovered something even rarer:
a society where ordinary people could build extraordinary lives.
No one embodied that idea more than Benjamin Franklin.
Born the son of a Boston candle maker, Franklin became a printer, publisher, scientist, inventor, diplomat, and one of America’s Founding Fathers. His story wasn’t remarkable because he was unusually talented—although he certainly was. It was remarkable because colonial America offered a level of social and economic mobility that was still uncommon across much of Europe, where birth, title, and family connections often determined opportunity.
To Franklin, that was America’s greatest competitive advantage.
Not its land.
Not its resources.
Its people.
People who could start businesses, learn trades, invent, invest, and improve their lives through their own effort rather than inherited privilege.
That belief runs quietly through the Declaration of Independence.
Political freedom was never viewed as an end in itself. It was the condition that allowed individuals to build, create, trade, and prosper on their own terms.
250 years later, every entrepreneur who starts a company, every investor who allocates capital, and every trader who risks their own money is participating in that same tradition.
Markets are ultimately built by people.
The founders understood that long before there was a market to measure.
Don’t forget to cast your vote 👇
Lesson Of The Day:
Was this email forwarded to you? Don’t miss out on future stories — subscribe using the button below.
Also, help your friends blossom this spring! Share us with them.
💬 We Want To Hear Your Story:
Got a market or stock you want us to analyze next?
Just drop your request in the comments here.
P.S. – If you no longer want to receive occasional emails from us and you want to unsubscribe, click here 👉 “Unsubscribe” . Thank you!
Happy 250th, America!
American Lesson.
The biggest market lesson in American history didn’t begin with a stock. It began with a tax.
Long before Wall Street became the world’s financial capital, a dispute over trade, taxation, and economic freedom helped shape America as a nation.
For centuries, wealth had largely been viewed as something governments controlled and empires accumulated.
The events of 1776 began to turn that thinking on its head.
→ America’s founders argued for political freedom – Power doesn’t flow from the government to the people. It flows from the people to the government. Essentially a social contract.
→ Adam Smith argued for economic freedom – Prosperity isn’t created by hoarding wealth. It’s created when people are free to trade, specialize, compete, and pursue their own interests.
Together, they helped redefine the relationship between governments, markets, and individuals.
Here is the story.
⇩
SPONSOR BREAK presented by BrownstoneResearch*
Forget SpaceX, Elon’s M.A.G.I. Could Be Bigger
While everyone was distracted with the recent SpaceX IPO…
Elon Musk quietly filed a patent with the U.S. Patent and Trademark Office to protect what Jeff Brown believes will be his next breakthrough…
Something he called “the greatest tech invention in history.”
Click here to see the details because Elon is predicting this new AI breakthrough will unleash a $1 quadrillion new wealth wave.
The Boston Tea Party Was Also a Market Story…
The Boston Tea Party of December 1773 is remembered as a protest against taxation without representation. That framing is accurate but incomplete.
The deeper grievance was about market competition — specifically, the British Parliament granting the East India Company special tax privileges that gave it an unfair advantage over colonial tea merchants who had been importing and trading freely for years.
Colonial merchants weren’t anti-trade. They were, by the 1760s, already trading extensively beyond the British Empire — as far as China and South America. What they objected to was a government created advantage for one connected company that made it impossible to compete on equal terms.
SPONSOR BREAK presented by ParadigmPress*
Move your money NOW! – Former CIA Advisor
He predicted the 2008 financial crisis…
He predicted Trump’s election in 2016….
He even predicted the rise of COVID-19 writing:
“The chance we don’t have something on the scale of a national pandemic in the next few years is near zero”
That was three months before the first reported case.
If he’s right again, God Bless America…
Because this crisis will be tectonic in scale…and it’s going to begin with the bubble popping in AI.
How Developed the Colonial Economy Actually Was.
By the 1760s, American colonists were already global traders — reaching China, South America, and the Caribbean.
One of the underrated facts about the American Revolution is how economically sophisticated the colonies already were before independence.
This wasn’t a collection of small farming communities suddenly thrust into self-governance.
By the 1760s, colonial merchants had built trading networks that extended far beyond the British Empire.
The colonists didn’t see themselves as subjects asking for economic rights but, instead as merchants and traders who already had those rights in practice — and were having them systematically taken away.
The revolution was, in part, a defense of an economic reality that already existed against a legal structure that was increasingly incompatible with it.
SPONSOR BREAK presented by MarketWise*
World’s Largest Investors Are Moving Their Money (Not Into AI)
While the media distracts you with stories about the next big AI IPO… The world’s largest investors are moving their money into one asset – at the fastest pace in a generation. This asset has crushed the S&P 500’s return over the past 12 months… More than TRIPLED the S&P 500’s return in 2025… and has outperformed the S&P 500 over the past 25 years by more than 1,100 percentage points. According to one Wall Street veteran, with over 40 years of professional investing experience… the biggest gains could be still ahead. That’s why he’s urging you to make one money move now.
Published The Same Year.
The Wealth of Nations was a 900-page argument against the same trade restrictions the colonists were rebelling against.
Adam Smith had been thinking about The Wealth of Nations for more than a decade before it was published.
His central argument was directed at the dominant economic theory of his era — mercantilism — which held that a nation’s wealth depended on accumulating gold and silver, controlling trade routes, and protecting domestic industries through tariffs and monopolies.
The East India Company, with its government-granted exclusive trading rights, was mercantilism in its most visible form.
Smith argued the opposite:
⚠️ Nations grew wealthier through specialization, free exchange, and the division of labor — not through government control of who could trade what with whom.
“No regulation can increase the quantity of industry in any country beyond what its capital can maintain. It can only divert part of it into a direction into which it might not otherwise have gone.“
~ Adam Smith, The Wealth of Nations, 1776
SPONSOR BREAK presented by Marketwise*
Land of the FREE! Chaikin 4th of July Flash Sale Expires Soon
It’s not too late to get in on Marc Chaikin’s huge 4th of July flash sale. Until Monday only, he’s offering 74% off the Power Gauge Report PLUS a year of free access to his Power Gauge Rating system.
For a taste of Marc’s legendary stock-picking skills, access Marc’s most up-to-date stock Hotlist and Hitlist — PLUS your free year of his system – by clicking here.
What America Built.
Within a generation of independence, the United States had become one of the fastest-growing economies in the world.
The merchant networks the colonists had already built — reaching China, the Caribbean, South America — became the foundation of something far larger.
By 1800, American merchant shipping was among the most active in the Atlantic world.
By 1900, the United States had become the largest economy on earth.
That trajectory — from a collection of colonies with legitimate economic grievances to the world’s dominant economic power in roughly 125 years — is one of the more extraordinary runs in economic history.
The founders who signed the Declaration had no way of knowing what they were setting in motion. They knew what they were escaping.
What came after was built by the generations that followed.
How Thirteen Separate Economies Became One.
When the Revolution ended in 1783, the thirteen states were economically fragmented.
Each state had its own trade barriers, its own tariffs on goods from neighboring states, its own currency, its own rules about who could do business there.
New York was taxing New Jersey goods. Connecticut was taxing Massachusetts goods. A country that had just fought a war against trade restrictions was busy recreating them between its own states.
Madison saw this clearly — and understood it as an existential threat to everything the Revolution had been about. He became one of the leading advocates for replacing the Articles of Confederation with a stronger Constitution.
A new constitutional framework was created where prosperity could grow through the free production, trade, and exchange of goods across a single nation, rather than being constrained by competing state barriers and conflicting commercial rules.
The United States became the largest single market in human history.
No other country had built anything like it.
It was not an accident of geography or resources. It was a constitutional decision made deliberately, by people who understood exactly what they were building.
The Founders’ Greatest Asset Was People
The founders didn’t simply believe they had discovered a better system of government.
They believed they had discovered something even rarer:
a society where ordinary people could build extraordinary lives.
No one embodied that idea more than Benjamin Franklin.
Born the son of a Boston candle maker, Franklin became a printer, publisher, scientist, inventor, diplomat, and one of America’s Founding Fathers. His story wasn’t remarkable because he was unusually talented—although he certainly was. It was remarkable because colonial America offered a level of social and economic mobility that was still uncommon across much of Europe, where birth, title, and family connections often determined opportunity.
To Franklin, that was America’s greatest competitive advantage.
Not its land.
Not its resources.
Its people.
People who could start businesses, learn trades, invent, invest, and improve their lives through their own effort rather than inherited privilege.
That belief runs quietly through the Declaration of Independence.
Political freedom was never viewed as an end in itself. It was the condition that allowed individuals to build, create, trade, and prosper on their own terms.
250 years later, every entrepreneur who starts a company, every investor who allocates capital, and every trader who risks their own money is participating in that same tradition.
Markets are ultimately built by people.
The founders understood that long before there was a market to measure.
Don’t forget to cast your vote 👇
Lesson Of The Day:
Was this email forwarded to you? Don’t miss out on future stories — subscribe using the button below.
Also, help your friends blossom this spring! Share us with them.
💬 We Want To Hear Your Story:
Got a market or stock you want us to analyze next?
Just drop your request in the comments here.
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Goldman Said $4,900. Then This Happened.
Lost in the Headlines.
→ Did Tesla’s delivery report coincided with the jobs report? Yes — both dropped July 2.
→ Did Tesla’s news dominate coverage that day? Also yes, based on what we built yesterday.
Gold barely made the news.
While Tesla captured the headlines, the jobs report quietly reshaped expectations for the Federal Reserve. The odds of a September rate hike fell sharply, Treasury yields moved lower, and gold continued its advance.
Before the closing bell, here’s the story many investors may have overlooked.
⇩
SPONSOR BREAK presented by BrownstoneResearch*
Forget SpaceX, Elon’s M.A.G.I. Could Be Bigger
While everyone was distracted with the recent SpaceX IPO…
Elon Musk quietly filed a patent with the U.S. Patent and Trademark Office to protect what Jeff Brown believes will be his next breakthrough…
Something he called “the greatest tech invention in history.”
Click here to see the details because Elon is predicting this new AI breakthrough will unleash a $1 quadrillion new wealth wave.
Goldman’s thesis…
Four days before Thursday’s jobs report, Goldman Sachs reaffirmed its $4,900 year-end price target for gold.
The bank’s view was straightforward:
The recent pullback wasn’t the end of gold’s rally—it was a pause.
Despite falling roughly 24% from its February peak, Goldman argued that the long-term forces supporting gold remained intact. The bank viewed the weakness as cyclical rather than structural, expecting those temporary headwinds to fade over time.
Thursday’s jobs report didn’t validate the entire thesis. But it did weaken one of the very forces Goldman had identified as holding gold back.
SPONSOR BREAK presented by ParadigmPress*
Move your money NOW! – Former CIA Advisor
He predicted the 2008 financial crisis…
He predicted Trump’s election in 2016….
He even predicted the rise of COVID-19 writing:
“The chance we don’t have something on the scale of a national pandemic in the next few years is near zero”
That was three months before the first reported case.
If he’s right again, God Bless America…
Because this crisis will be tectonic in scale…and it’s going to begin with the bubble popping in AI.
Two Forces Shaping Gold.
Goldman’s outlook rests on two competing forces.
1 The Structural Tailwind
Goldman believes the long-term case for gold remains intact.
Since the freezing of Russia’s foreign reserves in 2022, many emerging-market central banks have been steadily diversifying away from dollar-denominated assets and increasing their gold holdings—a geopolitical decision that isn’t driven by whether the Federal Reserve raises interest rates by another 25 basis points.
That trend continues to strengthen. According to the World Gold Council, 45% of the 76 central banks surveyed expect to increase their gold reserves over the next 12 months—the highest share on record.
2 The Cyclical Headwind
The shorter-term picture has been very different.
Higher oil prices fueled inflation concerns, pushing investors to expect a more hawkish Federal Reserve.
As bond yields moved higher, making income-producing assets like bonds more attractive than gold.
That shift reduced investor demand for gold—particularly through ETFs—and weighed on prices.
Oil ↑ → Inflation fears ↑ → Fed stays hawkish → Bond yields ↑ → Gold becomes less attractive.
Goldman viewed those pressures as temporary.
Thursday’s weaker-than-expected jobs report didn’t change the structural story—but it did reduce expectations for another Fed rate hike, easing one of the cyclical headwinds the bank had identified.
SPONSOR BREAK presented by MarketWise*
World’s Largest Investors Are Moving Their Money (Not Into AI)
While the media distracts you with stories about the next big AI IPO… The world’s largest investors are moving their money into one asset – at the fastest pace in a generation. This asset has crushed the S&P 500’s return over the past 12 months… More than TRIPLED the S&P 500’s return in 2025… and has outperformed the S&P 500 over the past 25 years by more than 1,100 percentage points. According to one Wall Street veteran, with over 40 years of professional investing experience… the biggest gains could be still ahead. That’s why he’s urging you to make one money move now.
Why 2022 Changed the Gold Market?
Goldman’s long-term thesis traces back to a single event.
In February 2022, the United States and its allies froze roughly $300 billion of Russia’s foreign currency reserves held in Western financial institutions.
For many central banks, it was a wake-up call.
Assets held abroad—even sovereign reserves—could become inaccessible during periods of geopolitical conflict. Physical gold held within a country’s own borders could not.
Goldman believes that realization fundamentally changed how many central banks think about reserve management. Rather than treating gold purely as an inflation hedge, they increasingly view it as a strategic reserve asset that sits outside the global financial system.
Unlike interest-rate expectations, that decision isn’t revisited after every Fed meeting. It’s a long-term geopolitical shift that plays out over years, not months.
Goldman also expects broader macro concerns—including rising fiscal deficits across Western economies—to encourage additional private demand for gold over time, reinforcing the longer-term trend.
SPONSOR BREAK presented by Marketwise*
Land of the FREE! Chaikin 4th of July Flash Sale Expires Soon
It’s not too late to get in on Marc Chaikin’s huge 4th of July flash sale. Until Monday only, he’s offering 74% off the Power Gauge Report PLUS a year of free access to his Power Gauge Rating system.
For a taste of Marc’s legendary stock-picking skills, access Marc’s most up-to-date stock Hotlist and Hitlist — PLUS your free year of his system – by clicking here.
What Thursday’s Report Changed
Weak jobs
↓
Less inflation pressure
↓
Fed less likely to raise rates
↓
Bond yields fall
↓
Gold becomes relatively more attractive
↓
Gold rises
Goldman’s biggest concern was the Federal Reserve.
The bank argued that as long as the labor market remained strong and inflation stayed elevated, the Fed would have little reason to lower interest rates—or could even raise them further. That environment tends to work against gold.
Thursday’s jobs report challenged that assumption.
The U.S. economy added just 57,000 jobs, roughly half of the 110,000 economists expected. At the same time, 720,000 people left the labor force, adding to evidence that the labor market may be losing momentum.
Investors quickly reassessed what that could mean for the Fed.
The probability of a September rate hike fell from 67% to below 50%, while Treasury yields moved lower.
That’s where gold enters the picture.
Unlike bonds, gold doesn’t pay interest. Lower expected rates reduce the advantage of holding bonds, making gold more competitive as a store of value.
That doesn’t guarantee higher gold prices.
But it does explain why Thursday’s jobs report immediately improved one of the key conditions Goldman had identified as holding gold back.
A Word of Caution ⚠️
Goldman isn’t arguing that gold’s path higher will be smooth.
The bank acknowledges that the same headwinds weighing on gold in recent months haven’t disappeared overnight. As long as the Federal Reserve maintains a relatively hawkish stance, higher interest rates can continue to limit investor demand for gold, particularly through ETFs.
That’s why Goldman describes those headwinds as likely to “at least partly reverse over time”—carefully acknowledging that the timing remains uncertain.
The bank’s economists still expect the Fed to keep rates unchanged this year, with easing not beginning until the second half of next year.
In other words, Thursday’s jobs report improved the backdrop for gold, but it didn’t settle the debate.
Goldman’s thesis has always been a long-term one, built on structural trends that are expected to play out over years rather than a single economic report.
Don’t forget to cast your vote 👇
Lesson Of The Day:
Was this email forwarded to you? Don’t miss out on future stories — subscribe using the button below.
Also, help your friends blossom this spring! Share us with them.
💬 We Want To Hear Your Story:
Got a market or stock you want us to analyze next?
Just drop your request in the comments here.
P.S. – If you no longer want to receive occasional emails from us and you want to unsubscribe, click here 👉 “Unsubscribe” . Thank you!
Goldman Said $4,900. Then This Happened.
Lost in the Headlines.
→ Did Tesla’s delivery report coincided with the jobs report? Yes — both dropped July 2.
→ Did Tesla’s news dominate coverage that day? Also yes, based on what we built yesterday.
Gold barely made the news.
While Tesla captured the headlines, the jobs report quietly reshaped expectations for the Federal Reserve. The odds of a September rate hike fell sharply, Treasury yields moved lower, and gold continued its advance.
Before the closing bell, here’s the story many investors may have overlooked.
⇩
SPONSOR BREAK presented by BrownstoneResearch*
Forget SpaceX, Elon’s M.A.G.I. Could Be Bigger
While everyone was distracted with the recent SpaceX IPO…
Elon Musk quietly filed a patent with the U.S. Patent and Trademark Office to protect what Jeff Brown believes will be his next breakthrough…
Something he called “the greatest tech invention in history.”
Click here to see the details because Elon is predicting this new AI breakthrough will unleash a $1 quadrillion new wealth wave.
Goldman’s thesis…
Four days before Thursday’s jobs report, Goldman Sachs reaffirmed its $4,900 year-end price target for gold.
The bank’s view was straightforward:
The recent pullback wasn’t the end of gold’s rally—it was a pause.
Despite falling roughly 24% from its February peak, Goldman argued that the long-term forces supporting gold remained intact. The bank viewed the weakness as cyclical rather than structural, expecting those temporary headwinds to fade over time.
Thursday’s jobs report didn’t validate the entire thesis. But it did weaken one of the very forces Goldman had identified as holding gold back.
SPONSOR BREAK presented by ParadigmPress*
Move your money NOW! – Former CIA Advisor
He predicted the 2008 financial crisis…
He predicted Trump’s election in 2016….
He even predicted the rise of COVID-19 writing:
“The chance we don’t have something on the scale of a national pandemic in the next few years is near zero”
That was three months before the first reported case.
If he’s right again, God Bless America…
Because this crisis will be tectonic in scale…and it’s going to begin with the bubble popping in AI.
Two Forces Shaping Gold.
Goldman’s outlook rests on two competing forces.
1 The Structural Tailwind
Goldman believes the long-term case for gold remains intact.
Since the freezing of Russia’s foreign reserves in 2022, many emerging-market central banks have been steadily diversifying away from dollar-denominated assets and increasing their gold holdings—a geopolitical decision that isn’t driven by whether the Federal Reserve raises interest rates by another 25 basis points.
That trend continues to strengthen. According to the World Gold Council, 45% of the 76 central banks surveyed expect to increase their gold reserves over the next 12 months—the highest share on record.
2 The Cyclical Headwind
The shorter-term picture has been very different.
Higher oil prices fueled inflation concerns, pushing investors to expect a more hawkish Federal Reserve.
As bond yields moved higher, making income-producing assets like bonds more attractive than gold.
That shift reduced investor demand for gold—particularly through ETFs—and weighed on prices.
Oil ↑ → Inflation fears ↑ → Fed stays hawkish → Bond yields ↑ → Gold becomes less attractive.
Goldman viewed those pressures as temporary.
Thursday’s weaker-than-expected jobs report didn’t change the structural story—but it did reduce expectations for another Fed rate hike, easing one of the cyclical headwinds the bank had identified.
SPONSOR BREAK presented by MarketWise*
World’s Largest Investors Are Moving Their Money (Not Into AI)
While the media distracts you with stories about the next big AI IPO… The world’s largest investors are moving their money into one asset – at the fastest pace in a generation. This asset has crushed the S&P 500’s return over the past 12 months… More than TRIPLED the S&P 500’s return in 2025… and has outperformed the S&P 500 over the past 25 years by more than 1,100 percentage points. According to one Wall Street veteran, with over 40 years of professional investing experience… the biggest gains could be still ahead. That’s why he’s urging you to make one money move now.
Why 2022 Changed the Gold Market?
Goldman’s long-term thesis traces back to a single event.
In February 2022, the United States and its allies froze roughly $300 billion of Russia’s foreign currency reserves held in Western financial institutions.
For many central banks, it was a wake-up call.
Assets held abroad—even sovereign reserves—could become inaccessible during periods of geopolitical conflict. Physical gold held within a country’s own borders could not.
Goldman believes that realization fundamentally changed how many central banks think about reserve management. Rather than treating gold purely as an inflation hedge, they increasingly view it as a strategic reserve asset that sits outside the global financial system.
Unlike interest-rate expectations, that decision isn’t revisited after every Fed meeting. It’s a long-term geopolitical shift that plays out over years, not months.
Goldman also expects broader macro concerns—including rising fiscal deficits across Western economies—to encourage additional private demand for gold over time, reinforcing the longer-term trend.
SPONSOR BREAK presented by Marketwise*
Land of the FREE! Chaikin 4th of July Flash Sale Expires Soon
It’s not too late to get in on Marc Chaikin’s huge 4th of July flash sale. Until Monday only, he’s offering 74% off the Power Gauge Report PLUS a year of free access to his Power Gauge Rating system.
For a taste of Marc’s legendary stock-picking skills, access Marc’s most up-to-date stock Hotlist and Hitlist — PLUS your free year of his system – by clicking here.
What Thursday’s Report Changed
Weak jobs
↓
Less inflation pressure
↓
Fed less likely to raise rates
↓
Bond yields fall
↓
Gold becomes relatively more attractive
↓
Gold rises
Goldman’s biggest concern was the Federal Reserve.
The bank argued that as long as the labor market remained strong and inflation stayed elevated, the Fed would have little reason to lower interest rates—or could even raise them further. That environment tends to work against gold.
Thursday’s jobs report challenged that assumption.
The U.S. economy added just 57,000 jobs, roughly half of the 110,000 economists expected. At the same time, 720,000 people left the labor force, adding to evidence that the labor market may be losing momentum.
Investors quickly reassessed what that could mean for the Fed.
The probability of a September rate hike fell from 67% to below 50%, while Treasury yields moved lower.
That’s where gold enters the picture.
Unlike bonds, gold doesn’t pay interest. Lower expected rates reduce the advantage of holding bonds, making gold more competitive as a store of value.
That doesn’t guarantee higher gold prices.
But it does explain why Thursday’s jobs report immediately improved one of the key conditions Goldman had identified as holding gold back.
A Word of Caution ⚠️
Goldman isn’t arguing that gold’s path higher will be smooth.
The bank acknowledges that the same headwinds weighing on gold in recent months haven’t disappeared overnight. As long as the Federal Reserve maintains a relatively hawkish stance, higher interest rates can continue to limit investor demand for gold, particularly through ETFs.
That’s why Goldman describes those headwinds as likely to “at least partly reverse over time”—carefully acknowledging that the timing remains uncertain.
The bank’s economists still expect the Fed to keep rates unchanged this year, with easing not beginning until the second half of next year.
In other words, Thursday’s jobs report improved the backdrop for gold, but it didn’t settle the debate.
Goldman’s thesis has always been a long-term one, built on structural trends that are expected to play out over years rather than a single economic report.
Don’t forget to cast your vote 👇
Lesson Of The Day:
Was this email forwarded to you? Don’t miss out on future stories — subscribe using the button below.
Also, help your friends blossom this spring! Share us with them.
💬 We Want To Hear Your Story:
Got a market or stock you want us to analyze next?
Just drop your request in the comments here.
P.S. – If you no longer want to receive occasional emails from us and you want to unsubscribe, click here 👉 “Unsubscribe” . Thank you!
