SpaceX's historic June 12, 2026 IPO, priced at $135/share, raised $75 billion, valuing the company at $1.77 trillion. The stock opened at $150 (+11.1%), hit $176.52 intraday, and closed between $160-$173 (+19-28%), pushing its market cap above $2.1 trillion. The central thesis highlights severe negative convexity, typical of hyper-valued tech IPOs, with a 2025 revenue…
The convergence of physical, behavioral, and microstructural signals confirms that Europe, and particularly France, has entered a regime of asynchronous systemic energy shortage. The three pillars of the breakdown:
(a) Physical Pillar. The Strait of Hormuz has been practically blocked since February 28, 2026: more than 20% of global oil traffic and 25% of…
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