SpaceX debut sparks trading frenzy, but threatens to suck oxygen out of stock market
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Stocks rose Friday as Elon Musk’s historic SpaceX debut caused a trading spree, shooting the company to a $2.15 trillion valuation – but its sheer size is threatening to suck the oxygen out of the rest of the market.
Ed Ludlow joins Carol Massar and Tim Stenovec to break down first hours of trading in the SpaceX IPO. Then, Bloomberg's Bailey Lipschultz and Yahaira Anand dive into the stock's performance and the mood at the Nasdaq. Plus, Host of the 'Everybody's Business' podcast Max Chafkin discusses what this means for Elon Musk as the IPO makes him the world's first trillionaire. Then, Bloomberg's Anthony Hughes checks how the stock is moving and Nick Colas, co-founder of Data Take Research, breaks down the calculus investors are making when they buy SpaceX. Ross Gerber, president and CEO of Gerber Kawasaki Wealth & Investment Management, joins to give his perspective as a Tesla investor and Cam Harvey, professor of finance at Duke University's Fuqua School of Business, discusses the risks to fast track SpaceX to the Nasdaq 100. Finally, Loren Grush, Bloomberg space reporter, discusses Musk's space technology. (Source: Bloomberg)
The Department of War on Friday released a new "Peace Through Strength" ad which will debut during the historic Freedom 250 UFC fight this weekend.
The post WATCH: Department of War Unveils Epic “Peace Through Strength” Ad That will Debut During Historic Freedom 250 UFC Fight appeared first on The Gateway Pundit.
Elon Musk’s SpaceX went public Friday, setting a new record with its stock market debut and turning the tech mogul into the world’s first trillionaire. The highly anticipated initial public offering (IPO) popped 11 percent when trading officially opened on the Nasdaq, sending the company’s valuation soaring to a massive $1.96 trillion. Here are five…
Late-night host Jimmy Kimmel roasted Elon Musk as a "wealthy weirdo" on Thursday as he was set to become a trillionaire ahead of SpaceX's historic IPO.
A dispute over player eligibility now has Texas Attorney General Ken Paxton (R) involved after he entered himself into the fray on Thursday.The Big 12 Conference finds itself with its hands tied after a court ruling pumped the brakes on the NCAA punishing a Texas Tech player.'Any such action would be unlawful and would expose the Conference to substantial liability.'Quarterback Brendan Sorsby was caught earlier this year gambling on NCAA games, and it turned out he had been betting on his own team for years. Sorsby wagered approximately $90,000 over four years, On3 reported, and he also allegedly used sportsbook accounts registered to his friends and family.Earlier this week, a Texas judge in Lubbock County, where Texas Tech is located, temporarily prevented the NCAA from enforcing a permanent eligibility ban on Sorsby, meaning the 22-year-old will be able to play this season for the Red Raiders, apart from the first two games.Then came reports that the Big 12 and other conferences were considering boycotting Texas Tech altogether, with Kansas State athletic director Gene Taylor telling Yahoo Sports that the Big 12 had "serious conversations" about it.Enter Texas AG Paxton's office, which sent a letter to the conference saying the state could seek "substantially more than $200 million" if the Big 12 tries to move forward with the boycott.Reporter Pete Nakos posted the AG's letter, which said Texas is aware of the attempted sanctioning of Texas Tech for "continuing its support of Mr. Sorsby as a student-athlete.""This letter serves to notify the Big 12 that any such action would be unlawful and would expose the Conference to substantial liability," Paxton's antitrust chief, Thomas York, wrote.RELATED: 'USA!' chants rock Madison Square Garden as Trump attends NBA FinalsFrom the letter: "Should the Big 12 seek. to sanction Texas Tech for acting consistent with the Order, Texas Tech will pursue all legal avenues to protect its interests and those of Texas Tech’s student-athletes."https://t.co/Q8ap2Ezie4 https://t.co/jPc4uAixce pic.twitter.com/gAE15NqykH— Pete Nakos (@PeteNakos) June 11, 2026The letter continued, describing the possible plan as "a naked horizontal agreement among competitors to disadvantage Texas Tech by cutting off access to the resources it needs to compete."The state government argued this would open up the conference and its members to potential damages stemming from Texas Tech's "lost football revenues, damages to its alumni contributions, and damages to its recruitment, plus attorneys' fees."Paxton's office also cited a possible breach of contract and "tortious antitrust," described as "any sanction that disrupts or interferes with Texas Tech's existing or potential contracts associated with its football team."This includes the disruption of potential sponsorships, ticket sales, and other commercial relationships, for example.Oklahoma Attorney General Gentner Drummond (R) then fired off a letter of his own, calling Paxton's claims "meritless" and "facially absurd."Drummond also expressed support for the Big 12 sanctioning Texas Tech over the Sorsby saga. Texas Tech "has shirked responsibility by running with a bogus claim to a friendly court. Its leadership has prioritized winning over sport, over honor, and over integrity. If Texas Tech will not do the right thing, the Big 12 should," he wrote, according to images of the letter shared by ESPN college football reporter Pete Thamel.RELATED: 'I had the right papers': Somali World Cup referee booted from US gets an answer from the White House John E. Moore III/Getty Images As Blaze News previously reported, members of the Big Ten and the SEC have also discussed refusing to play Texas Tech.Thamel cited three unnamed Big Ten sources on Monday night who said they planned on discussing the possible sanction, while University of Georgia athletic director Josh Brooks reportedly issued an internal memo to his school's coaches advising them not to schedule any games against Texas Tech in any sport without conference approval.Like Blaze News? Bypass the censors, sign up for our newsletters, and get stories like this direct to your inbox. Sign up here!
