Active Insights
Active-management perspective, portfolio positioning, and manager commentary.
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SpaceX Is Up 19% Since Its IPO. Here’s Why We’re Not Buying It
SpaceX SPCX jumped 19% after IPOing on Friday, and it’s off to another hot start this morning.
Chris Reilly -
SpaceX Just Became History’s Most Expensive Mega-Cap Stock
Investors are paying nearly 100X sales for the stock. What makes SpaceX worthy of such an eye-watering valuation? Data centers in space.
Stephen McBride -
Markets Are Sending a Message Investors Shouldn’t Ignore
We’re now seeing what happens when consensus gets shaken and momentum breaks. Some of the most reliable themes were shattered in recent days.
Steve Sosnick -
The SpaceX IPO Is Guilty Until Proven Innocent
Due to the unique mechanics of SpaceX’s IPO, I could see it having a stellar debut. It could surge out of the gate in its first week.
Stephen McBride -
If You Buy SpaceX, You’re Not Buying a Rocket Company
SpaceX has filed an application with the FCC to launch up to one million AI data center satellites into low-Earth orbit.
Chris Wood -
SPCX Is Firing Up: 3 Businesses to Breakdown
The space launch segment generated $4.1 billion in revenue in 2025 but posted a $657 million operating loss.
Lance Roberts