Liftoff and Landfall

SpaceX has jettisoned the IPO rulebook.

Wednesday, the rocket-maker declared a $135/share price for its stock-market debut, a virtually unheard-of Wall Street move. Companies typically set a preliminary range to gauge investor interest (read: let investors haggle).

If successful, SpaceX stands to raise ~$75B after its June 12 blastoff—more than every U.S. IPO in the last two years combined—claiming the title of history’s largest public offering. It puts Elon Musk, who holds over 80% of the voting power, on trajectory to become the planet’s first trillionaire. SpaceX’s proceeds will launch out-of-this-world expansions, including Mars missions, AI datacenters in space, and satellite networks. 

In a downturn of events, Bitcoin dropped to $64,721.39 Wednesday to its lowest level since February. The slide follows weeks of outflows, with investors pulling as much as $2.8B from Bitcoin funds.

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A verse to consider when you’re considering how the Lord might have you invest your time, money, or energy… “I pray that the God of our Lord Jesus Christ, the glorious Father, would give you the Spirit of wisdom and revelation in the knowledge of him. I pray that the eyes of your heart may be enlightened so that you may know what is the hope of his calling, what is the wealth of his glorious inheritance in the saints, and what is the immeasurable greatness of his power toward us who believe, according to the mighty working of his strength.” 
Ephesians 1:17-19 (CSB) (read full passage)