Wall Street Breakfast Podcast: SpaceX Enters Public Orbit

SpaceX’s Nasdaq debut dominates the piece, with the company pricing its IPO at $135 per share and reaching a reported $1.77 trillion valuation, making it the largest IPO in history by a wide margin. The article frames the listing as a major market event but notes concerns over fundamentals, including roughly $18 billion in revenue and negative earnings, suggesting the stock may be more of a late-stage thematic trade than a clean long-term investment. The commentary also highlights Adobe’s strong quarterly beat and raised guidance, but shares still fell as investors appeared unconvinced amid CFO turnover. Broader market context was mixed, with crude oil sharply lower, Bitcoin slightly down, and gold modestly higher.