lode

SpaceX $SPCX traded 256 million shares yesterday. The entire public float is 556 million. So in one day, almost half of every tradable share changed hands. Bought and sold, over and over, in a few hours. Here's why that number is absurd. SpaceX sold 555.6 million shares at $135 to raise $75 billion. That float is barely 4% of the company. Musk and insiders hold the other 96%, locked up and unable to sell. Tiny supply. Enormous demand. Index funds that have to own it, retail that wants to, traders chasing the move. The result is a $2 trillion company that trades like a penny stock. Up to $211 pre-market, swinging double-digit percentages between coffees. This is what happens when you list 4% of the seventh-largest company in America and let the world fight over the scraps. The price isn't telling you what SpaceX is worth. It's telling you how few shares there are to buy.

🤡At the St. Petersburg International Economic Forum, Russia presented its long-term geopolitical scenarios for the future. GOOD SCENARIO: - Kyiv, Odesa, Kharkiv, and other Ukrainian cities under Russian control by 2036. - A fully controlled buffer state on Ukrainian territory - or the annexation of Ukraine. - The collapse of the European Union. - Russia becoming a global leader in security and geopolitics by 2050.