The Space X IPO ...Huge Win for American Capital Markets, Goldman Sachs, JP Morgan and the Money Multiplier

Happy Friday.

SpaceX is trading $SPCX ( ▲ 19.02% ) and I think I am the only person who does not own a share. The stock has opened up and shot past $2 trillion making Elon a trillionaire. Mamdani, AOC, Bernie or Liz Warren are licking their chops.

Here I am posing with Elon (good use of AI as my skin and hair look fabulous)

We sent out a special edition Stocktwits newsletter this morning with all the IPO details. Hats off to our sponsor Trader ETF’s for quickly offering 2x leveraged SpaceX ETF’s and god bless the ‘degenerate economy’.

It is easy to be skeptical and cynical of this whole SpaceX IPO process, I am, but the reality is this is an important event that is great for the capital markets even if the stock were to crash 75 percent over the next year.

Why?

While some may take their money and go home, most of the liquidity will be put back into the system…the money multiplier in motion. We will see more innovation, more risk capital, more startups, more investing and more trading. The wealth gap is more real than ever, but I am no economist and am not going to stress out about that here. I am sure some great charity will be taking place as Americans are charitable.

Hats off to Goldman Sachs and JP Morgan who make out like bandits on this IPO and who hardly had to sell their souls to get this done. Quietly, Goldman’s stock has been hitting regular all-time highs and JP Morgan is right there too. I remember a time before Elon when our hate was focused on the banks. People just want to own a piece of Elon’s magic and all the old hucksters are drafting behind.

Culturally, the SpaceX IPO marks the continuation of a trend which I have been writing about on this blog/newsletter for a couple of decades…America’s capital markets are our greatest product, our most under appreciated export, and in this degenerate economy era…our bigger and better Disneyland (take a look at $DIS if you don’t believe me).

It is why I take such offense to the grift and abuse that seems to be on the rise. There is no guarantee that our leadership in this capital markets continues and we are not treating these markets with enough respect.