Core Viewpoint - xStocks and Fundrise have partnered to tokenize the Fundrise Innovation Fund (NYSE: VCX), allowing global investors to gain onchain exposure to a diversified portfolio of leading private technology companies through a single tokenized asset, VCXx [1][2][3]. Group 1: Partnership and Product Launch - The partnership enables access to high-growth private technology companies such as SpaceX, OpenAI, Anthropic, and Databricks through the VCXx asset [2][3]. - The VCX fund has already seen strong early demand since its public debut, representing a new avenue for accessing late-stage private markets [3][4]. - By tokenizing VCX, the partnership aims to bridge the gap between public and private markets, making previously inaccessible investment opportunities available to a broader range of investors [7][8]. Group 2: Market Position and Ecosystem - xStocks has established itself as the largest provider of tokenized equities, with over $25 billion in transaction volume and more than 100,000 unique holders globally [5][6]. - The VCX fund introduces a new category within the xStocks ecosystem, expanding access to private market portfolios onchain [6][8]. - The tokenized VCX fund is expected to go live soon, further enhancing the utility of tokenized assets within decentralized finance (DeFi) [9][13]. Group 3: Industry Context and Future Developments - The launch of VCX comes amid increasing institutional interest in tokenized equities, with Payward's partnership with Nasdaq aimed at connecting traditional equity markets with onchain systems [7][19]. - The tokenized asset VCX will allow for various use cases, including collateralization and integration into automated onchain strategies, enhancing its functionality within the financial ecosystem [8][12].

Core Viewpoint - Tesla's stock is under pressure due to weak delivery expectations, geopolitical risks, and uncertainty surrounding CEO Elon Musk's long-term strategy [1][2][10] Delivery Expectations - Investor focus is on Tesla's upcoming first-quarter delivery report, expected on April 2, with estimates around 366,000 vehicles, indicating an 8%-9% year-over-year growth [3] - RBC Capital estimates 367,000 units, while UBS projects a more conservative 345,000 deliveries, highlighting uncertainty in demand trends [3][4] - Tesla sold 418,227 vehicles in Q4 2025 and 336,681 units in Q1 2026, showing seasonal variability in sales [4] Market Sentiment and Stock Performance - Tesla's stock fell 3% on Friday, contributing to a 23% decline over the past three months, with sentiment outweighing fundamentals [2][6][10] - Analysts suggest that sentiment is driving stock performance more than actual delivery numbers, reflecting a disconnect between Tesla's valuation and its reliance on vehicle sales for revenue [5][11] Musk's Broader Ambitions - Tesla's narrative is increasingly linked to Musk's wider ambitions, including robotaxis and AI, which remain largely unproven in terms of revenue [7] - Tesla invested $2 billion into xAI in 2025, which was later acquired by SpaceX, indicating deepening ties with Musk-led ventures [8] Geopolitical and Market Dynamics - Tesla shares are affected by broader market dynamics and geopolitical developments, with an 8% decline since hostilities involving Iran began in late February [10] - Analysts note that sentiment, rather than fundamentals, is playing a significant role in price action, with strategic shifts in Tesla's core business also impacting outlook [11] Financial Outlook - Tesla's automotive segment generated $69.5 billion in revenue last year, but rising capital expenditures, expected to exceed $20 billion this year, could strain cash flow [12] - Some analysts warn that free cash flow may turn negative, raising concerns about the company's financial health [12]

Core Viewpoint - SpaceX is preparing for an initial public offering (IPO) that could raise up to $75 billion, with a potential valuation reaching $1.75 trillion, making it the largest IPO in history [1] Company Growth - SpaceX generates revenue primarily from Starlink satellite and internet services, as well as launch services using Falcon rockets, serving customers like NASA, the U.S. Department of Defense, and commercial satellite companies [3] - Revenue growth has been significant, doubling from $2.3 billion in 2021 to $4.6 billion in 2022, then increasing by 90% to $8.7 billion in 2023, and projected to rise 51% to $13.1 billion in 2024 and 18% to $15.5 billion in 2025 [5] Future Growth Drivers - Long-term growth is expected to be driven by the Starship program for missions to the Moon and Mars, along with the recent acquisition of xAI, which could enhance sales and strengthen core businesses [6] Valuation Considerations - A valuation of $1.75 trillion would place SpaceX at 113 times its projected 2025 sales, significantly higher than its last known valuation of $800 billion in late 2025 [7] - High-growth space stocks typically trade at elevated valuations, with comparable companies like AST SpaceMobile and Rocket Lab trading at 142x and 44x their projected 2026 sales, respectively [8]

Core Viewpoint - SpaceX is reshaping traditional underwriting logic on Wall Street with an unprecedented IPO plan, aiming to allocate up to 30% of its shares to individual investors, which is three times the usual allocation [2][3][4]. Group 1: IPO Structure and Strategy - The potential valuation of SpaceX's IPO could reach $1.75 trillion, making it one of the largest public offerings in history [5]. - The allocation of shares to individual investors is designed to stabilize stock prices post-IPO by leveraging Musk's loyal fan base, reducing the likelihood of drastic price fluctuations [4][8]. - Traditionally, only 5% to 10% of shares are allocated to retail investors, highlighting the significance of SpaceX's approach [7]. Group 2: Underwriting and Bank Roles - SpaceX is breaking from the conventional model where large investment banks compete broadly, instead adopting a "track" structure that directs different banks to specific investor groups and regions [13][15]. - Banks have been assigned distinct roles: E*Trade for retail investors, UBS for international markets, and Citigroup for coordinating international distribution [14][21]. - The arrangement emphasizes personal relationships and past collaborations over pure market competition, allowing SpaceX to control its IPO's capital structure and investor composition [15]. Group 3: Investor Sentiment and Market Dynamics - The enthusiasm for the IPO is compared to the excitement surrounding Google's IPO two decades ago, indicating strong demand from a diverse range of investors, from wealthy family offices to smaller investors attracted by Musk's charisma [5][19]. - The strategy is built on a foundation of long-term investor relationships established through Musk's previous ventures, fostering confidence in the upcoming IPO [17][19]. - The current IPO plan is still subject to change, with reports suggesting that the allocation for individual investors could exceed 20% [9].

🚨 Wedbush: Tesla–SpaceX merger possible by 2027Analyst Dan Ives @DivesTech says groundwork is already forming, Tesla now owns a small SpaceX stake, and the joint Terafab project is creating deeper operational overlap.While regulatory hurdles remain, Wedbush sees Elon Musk’s long-term goal as combining Tesla and SpaceX to control more of the AI ecosystem. $TSLASawyer Merritt (@SawyerMerritt):Wedbush analyst @DivesTech in new $TSLA note:"We continue to believe that SpaceX and Tesla will eventually merge into ...

Industry Overview - The space economy is projected to reach $10 trillion by 2050, transitioning from a concept to a reality [1] - AST SpaceMobile and Rocket Lab have seen significant stock price increases of over 1,500% and 1,700% respectively in the past three years, indicating strong market interest [1] Company Profiles - AST SpaceMobile is developing a cellular broadband network in space, partnering with over 50 mobile network operators to serve nearly 6 billion people in areas lacking traditional cell tower coverage [5] - Rocket Lab offers end-to-end space services, including rocket launches and satellite operations, and is working on a reusable rocket for medium-lift payloads while securing government contracts for missile-tracking satellites [6] Financial Metrics - Both companies have similar market capitalizations, with AST SpaceMobile at $33 billion and Rocket Lab at $37 billion [8] - The stocks trade at 42 times and 31 times their projected 2027 revenues, respectively, indicating that neither stock is currently considered a bargain [8] Growth Potential - Analysts expect both companies to generate meaningful revenue and experience rapid growth in the coming years [7] - Rocket Lab has secured a $190 million contract for suborbital launches and a potential $816 million satellite contract, highlighting its progress and government engagement [10] Risks - AST SpaceMobile faces the challenge of successfully launching satellites to build its constellation [9] - Rocket Lab must overcome setbacks with its Neutron rocket and compete with industry leader SpaceX [9]

Market Overview - The stock market experienced a decline, with the Nasdaq and S&P 500 reaching six-month lows due to the ongoing Iran war, rising oil prices, and high Treasury yields [1][2] - Small-cap stocks initially rose but later fell back from resistance levels, while the Dow Jones remained flat for the week [1][2] Oil Prices - U.S. crude oil prices fluctuated, initially rising above $100 per barrel before dropping to around $88 following news of a potential diplomatic breakthrough regarding Iran [3] - Prices rebounded as Iran rejected the peace plan, with U.S. oil prices above $97 per barrel and Brent crude at $110 by Friday morning [3] Arm Holdings - Arm Holdings launched a new server chip aimed at data centers for AI applications, forecasting sales growth from $1 billion in fiscal 2028 to $15 billion in fiscal 2031 [4] - Meta Platforms is expected to be the primary customer for this new chip, which positions Arm to compete with AMD and Intel [4] Memory Stocks - Memory chip stocks faced significant declines due to fears of a cyclical peak and reports of improved compression algorithms from Google that could reduce memory usage [5] - Companies like Micron Technology and Sandisk saw their shares drop, while Sandisk announced a $1 billion investment in DRAM chipmaker Nanya Technology [5] SpaceX IPO - SpaceX is preparing for an initial public offering that could raise $75 billion or more, potentially making it one of the largest IPOs in history [6] - The company recently merged with xAI, valuing the AI startup at $250 billion and the overall company at $1.25 trillion, with speculation of a $1.75 trillion valuation [6] Meta Platforms - Meta Platforms faced legal challenges, resulting in a 10% drop in shares after being found liable for contributing to mental health issues among young users [8] - The rulings may lead to increased scrutiny and potential legal challenges for internet companies regarding the content they host [8] Argan - Argan reported a 56% increase in earnings, with sales rising nearly 13% to $262 million, driven by strong demand in data center construction and electrification projects [12] - The company's project backlog more than doubled to $2.9 billion, indicating robust future growth prospects [12]

I entered into SpaceX four times. I couldn't leave. Like it was the dream.>> I spent about a decade at Tesla and got to run around the battery supply chain. >> Chandler Lugjitsa is the CEO of Galedai, next generation missile propulsion. Turner Caldwell is the CEO of Marian Minerals, critical mineral supply chains.>> When Elon sets like super aggressive targets, the goal is actually to get the team to think really deliberately. There's a thousand things that have to happen, but a hundred of them cannot be do ...

Core Viewpoint - Tesla will not release a cheaper version of the Model 3 in China this year, confirming no new car models will be introduced in the Chinese market for 2026 [1][3]. Group 1: Market Context - China is Tesla's second-largest market after the U.S. and the largest car market globally [2]. - Tesla's global sales have been declining sharply for over a year, although monthly retail sales in China saw a recovery, growing 42% year over year in February [2]. Group 2: Production and Competition - Tesla has not converted any production lines at its Giga Shanghai factory to produce the cheaper Model 3, continuing to manufacture the current Model 3 sedan and Model Y SUV [3]. - The Chinese market is highly competitive for affordable electric vehicles, with rivals offering cars as low as $5,000, such as the Bestune Pony and Wuling Hong Guang Mini EV [4]. Group 3: Financial Performance - Tesla's stock is down about 2% on a recent Friday, marking a potential sixth consecutive week of declines, with shares trading at their lowest level since September [2][8]. - The stock has decreased approximately 17% year-to-date, reflecting concerns over declining vehicle deliveries in the first quarter [8].

Core Viewpoint - Argan (AGX) is facing a challenging earnings report with expected earnings of $2 per share, reflecting a 10% year-over-year decline, while sales are projected to increase by 10% to $255.3 million [2][3]. Company Performance - Argan's growth has been significantly driven by the construction of data centers for AI workloads, with a market capitalization exceeding $5.68 billion after being added to the S&P SmallCap 600 index [3]. - The stock has seen a year-to-date increase of over 30%, although it experienced a 13% decline recently, impacting its overall performance [4]. - The stock price fell to around 411, struggling to maintain the 50-day moving average, with a notable drop of 12% this week [4][5]. Market Behavior - The stock has an elevated 21-day average true range (ATR) of 6.22%, indicating significant price volatility which may trigger sell signals [6]. - Analysts have noted that further declines below the 50-day moving average could signal bearish trends, while a rebound above this level may present buying opportunities [5].