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Wall Street's leading short seller is bearish on SpaceX IPO: Its prospectus could become the biggest joke in history

1 hours ago

GMO co-founder and Wall Street’s famed bear Jeremy Grantham has called SpaceX “the craziest IPO in history”, noting that its grand vision outlined in the prospectus could become a laughingstock for the market in hindsight. Grantham expressed confusion over Wall Street’s widespread recommendation to buy SpaceX, arguing that even if the company meets expectations eventually, it will need a disruptive breakthrough in AI; otherwise, a valuation collapse is more likely. However, Grantham pointed out that SpaceX’s inclusion in the Nasdaq 100 index will attract massive passive allocations from index funds, and the resulting supply-demand imbalance may continue to drive up its stock price, leaving upside potential in the short term.

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After the US stock market opened, the semiconductor and storage sectors rallied, with SanDisk and Western Digital rising more than 3%.

According to market data from Bit (Bit.com), the semiconductor and storage sectors strengthened after the US stock market opened. Among them: NVIDIA (NVDA) rose 0.46%, Advanced Micro Devices (AMD) rose 0.27%, Qualcomm (QCOM) rose 0.63%, Seagate Technology (STX) rose 1.28%, Western Digital (WDC) rose 3.39%, SanDisk (SNDK) rose 3.4%, and Micron Technology (MU) rose 1.1%.

8 minutes ago

Trump administration lifts restrictions on OpenAI's GPT 5.6

According to monitoring by Dongcha Beating, the Trump administration has lifted restrictions on OpenAI's GPT 5.6.

8 minutes ago

Tanker traffic through the Strait of Hormuz has essentially ground to a halt.

As the 60-day ceasefire between the U.S. and Iran teeters, oil tanker traffic through the Strait of Hormuz has essentially ground to a halt. Jorge Leon, head of geopolitical analysis at research firm Rystad, stated: "As of today, traffic appears to have completely halted." This "near-stagnation" reflects current risk perceptions more accurately than any statement from Washington or Tehran. According to Kpler data, only four tankers have transited the strait so far today. Naveen Das, a senior oil analyst at Kpler, noted that since the U.S. and Iran reached their 60-day ceasefire on June 17, an average of roughly 32 tankers have transited the strait daily. That figure is nearly three times the average daily traffic between the February outbreak of hostilities and the June 17 ceasefire, though it remains far below pre-conflict levels.

8 minutes ago

Trump says he does not rule out striking Iran's key infrastructure.

U.S. President Donald Trump said the United States would destroy Iran's power and water facilities if necessary, but currently "does not want to do so". Trump added that the U.S. has not yet launched the highest-level attacks, such as targeting bridges, noting that "if necessary, we will destroy higher-level targets". In addition, Trump said the U.S. may also consider "taking over" Iran's Kharg Island. (Jinshi)

8 minutes ago

U.S. stocks opened lower, with all three major indices declining, while the Nasdaq fell 0.31%.

According to Bit.com market data, the Dow Jones Industrial Average fell 0.31% at the opening of US stock markets, the S&P 500 dropped 0.51%, and the Nasdaq declined 0.44%. Sandisk (SNDK.O) fell 1%, Micron Technology (MU.O) dropped 2.9%, Microsoft (MSFT.O) decreased 1.5%, Alibaba (BABA.N) rose over 9%, and Broadcom (AVGO.O) gained 2%.

8 minutes ago

Trump: May Resume Blockade of the Strait of Hormuz

Trump stated, "We cannot trust the Iranians. Even if a deal is eventually reached, I’m not sure it will hold." Last night, we sank 28 Iranian vessels and may sink more tonight, launching renewed attacks against them—attacks Iran is powerless to stop. We have not yet launched the highest-level strikes, such as blowing up bridges, but if necessary, we will destroy higher-value targets including Iran’s power and water facilities, and may even seize Kharg Island. "We could have killed all of Iran’s leaders during Khamenei’s funeral, but Iran exploited the funeral to launch attacks," he added. "Witkov can participate in negotiations, but I do not see that possibility at present." Additionally, Trump said he may reimpose a blockade on the Strait of Hormuz, targeting only Iran. (Jinshi)

8 minutes ago