markets

Luke Kawa4/2/25

Trump Media slumps on offering that lets Trump cash out

Liberation Day may be about the president availing himself of an ownership stake of the company that bears his name.

Trump Media & Technology Group is slumping in the premarket after filing for a primary offering of about 8.4 million shares and announcing a secondary sale of about 134 million shares by holders that include President Donald Trump.

To quote the filing:

“...this prospectus also relates to the offer and resale from time to time in one or more offerings, by the selling securityholders named in this prospectus... consisting of... 114,750,000 shares of Common Stock held by Donald J. Trump Revocable Trust dated April 7, 2014 (the ‘President Trump Shares’).”

The president has a stake valued at about $2 billion in Trump Media, the owner of Truth Social.

These 142 million shares (the primary offering plus the secondary) are well over half of shares outstanding. The stock is off about 7.2% shortly after 8 a.m. ET.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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