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Adding SpaceX this quickly would make the Elon Musk company one of the first beneficiaries of Nasdaq's recently adopted fast-track inclusion framework. View More

In this articleSPCX.NDXQQQFollow your favorite stocksCREATE FREE ACCOUNT The stock of SpaceX continues its consolidation phase on the New York Stock Exchange one week after its Nasdaq listing. Samuel Boivin | Nurphoto | Getty Images SpaceX became one of the quickest additions ever to the Nasdaq-100 index, setting up a fresh wave of buying from passive investors less than a month after the company's blockbuster public debut.Nasdaq announced after the close Friday whether SpaceX qualifies for inclusion in the benchmark technology index. Assuming the company meets the requirements, index-tracking funds and other product sponsors would begin purchasing shares after the market closes on July 6, with SpaceX officially joining the Nasdaq-100 before trading begins on July 7.More than $800 billion tracks the index, including the Invesco QQQ Trust (QQQ), which is one of the most popular securities traded each day and is seen as a barometer for the artificial intelligence bull market.The aerospace and satellite company is expected to enter the index with a weighting of less than 1%.Adding SpaceX this quickly would make the Elon Musk company one of the first beneficiaries of Nasdaq's recently adopted fast-track inclusion framework for newly public companies. The changes allow some large IPOs to become eligible for the Nasdaq-100 after just 15 trading days, dramatically shortening what had historically been a far longer waiting period.Under the previous framework, investors tracking the Nasdaq-100 could be forced to wait months before gaining exposure to newly listed market giants.The inclusion could create another source of demand for SpaceX, which has been one of the most actively traded stocks since its June 12 debut. Index funds and exchange-traded funds tied to the Nasdaq-100 would need to buy shares to match the benchmark's new composition, while active managers who track the index closely might also adjust positions.Because SpaceX's publicly tradable float remains small compared with its total market capitalization, even a modest index weighting could require meaningful purchases from passive investment vehicles.Earlier this month, S&P Dow Jones Indices declined to create a similar fast-track process for the S&P 500. Therefore, SpaceX remains ineligible for inclusion in the S&P 500 because of that index's separate profitability and seasoning requirements.— CNBC's Leslie Picker contributed reporting. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Oracle's surging spending, negative free cash flow and $130 billion debt pile are weighing on the stock. View More

In this articleIGVORCLFollow your favorite stocksCREATE FREE ACCOUNT Oracle CEO Clay Magouyrk, right, speaks on a media tour of the Stargate data center in Abilene, Texas, on Sept. 23, 2025.Kyle Grillot | Bloomberg | Getty Images Oracle just wrapped up its worst week on Wall Street in 25 years as concerns continue to mount about the software company's debt load and whether its bet-the-house investment on artificial intelligence will pay off. The stock plummeted 19% this week, dropping at least 2.6% each of the past five days. It's the steepest weekly drop since a 20% plunge in August 2001, during the depths of the dot-com bust. The past nine months have been brutal for Oracle investors. After the company reached a peak market cap of $900 billion in September, on budding enthusiasm about Oracle's AI customers, the stock has lost about 55% of its value. The crux of the problem is that for Oracle to fulfill its AI infrastructure commitment, primarily to OpenAI, it's having to raise record amounts of debt, creating balance sheet risk while focusing on lower-margin offerings. Oracle was sitting on about $130 billion in debt at the end of May, with capital expenditures rising 162% to nearly $56 billion in the 2026 fiscal year. It's racing to open data centers alongside cloud giants Amazon, Microsoft and Google, but without being able to sell a full technology stack like its rivals. Oracle recorded negative free cash flow of almost $24 billion in the latest fiscal year. Earlier this month, Oracle said that, in fiscal 2027, it plans to raise $40 billion through debt and equity financing, including a $20 billion share sale announced earlier, after $43 billion in debt sales and $5 billion from equity issuance last fiscal year. "We expect financing/leverage and the pace of equity issuance to remain the central investor debate near term, even as demand signals stay strong," Evercore analysts, who recommend buying the stock, wrote in a note on Wednesday. Like Evercore, most firms remain bullish on Oracle's prospects despite investors' growing concerns. According to FactSet, 71% of analysts recommend buying the stock, the highest percentage in 15 years. Oracle didn't respond to a request for comment. watch nowVIDEO2:1002:10AI story is go big or go home in debt issuance, says Fortress' BurtonClosing Bell: Overtime Oracle is facing multiple market headwinds. In addition to its hefty capital requirements, the company is trading lower from the selloff in software names as investors worry that AI models will replace many of their products' capabilities. The iShares Expanded Tech-Software Sector Exchange-Traded Fund (IGV) is down 16% so far in 2026, while Oracle has fallen 24%. In its annual report last week, Oracle disclosed that head count shrank 13% to 141,000 employees in fiscal 2026, with a notable pullback in sales and marketing.Larry Ellison, Oracle's co-founder, was absent from the earnings call this month, leaving dual CEOs Clay Magouyrk and Mike Sicilia and recently appointed finance chief Hilary Maxson to answer questions."Hilary has a tough life," Magouyrk said on the call.Because of Oracle's retreating stock price, Ellison has been surpassed on the world's list of wealthiest people by Google co-founders Larry Page and Sergey Brin, Amazon founder Jeff Bezos and Michael Dell. Ellison is still worth over $200 billion.Oracle is pushing forward with its buildout plans, targeting data centers in Michigan, New Mexico and Texas in 2027."As we pursue these opportunities, we'll remain focused on disciplined capital allocation, maintaining a strong balance sheet, and preserving our investment-grade credit rating," Maxson said on the earnings call this month.WATCH: Options traders buy calls in Oracle following AI-driven layoffs watch nowVIDEO1:3101:31Options traders buy calls in Oracle following AI-driven layoffsOptions Action Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Warsh has added two more key advisors as he seeks to remake how the central bank approaches the economy and monetary policy. View More

New U.S. Federal Reserve Chairman Kevin Warsh holds a press conference following a two-day meeting of the Federal Open Market Committee at the U.S. Federal Reserve in Washington, June 17, 2026.Eric Lee | Reuters Federal Reserve Chairman Kevin Warsh has added two more key advisors as he seeks to remake how the central bank approaches its views on the economy and monetary policy, people familiar with the moves confirmed to CNBC. Though Warsh has talked about broad changes that need to be made at the Fed, he instead reached inside for these appointments, naming economists Daniel Covitz and Eric Engstrom to the posts, according to people familiar with the process, who asked not to be named because the discussions were private. Covitz is one of three deputy directors in the research and statistics division while Engstrom is an associate director in monetary affairs.The appointments come a little more than a week after Warsh announced five task forces aimed at addressing broad aspects of the Fed's operational structure. Among the focuses will be communication, data, inflation, technology and the Fed's balance sheet. Warsh has touted the importance of reexamining how the Fed views each of the key metrics and said he will deploy resources both inside and outside the institution to tackle the projects. However, the latest announcements indicate that he will rely heavily on the Fed's own experts as he charts the course ahead. Both Engstrom and Covitz bring decades of Fed experience to their new positions. A Fed official noted that the two will serve in these positions on a rotating basis while maintaining their positions in their respective divisions.Warsh earlier selected Paul Winfree, an architect of the controversial Project 2025 document that sought to decrease the Fed's influence on the economy, and Daniel Heil of Stanford, who had previously worked with Warsh.The two latest appointments were first reported in the Wall Street Journal. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Bengal can witness the highest growth rates in India in the next four years, given an “enabling” framework provided by the government, said West Bengal Finance Minister View More

Silver Consumer Electricals, renowned for its pumps and motors, has successfully raised Rs 150 crore through a pre-IPO secondary share sale. A 2.59% stake was sold by a promoter group member to investor Riyaz Suterwala, paving the way for its upcoming initial public offering. With its DRHP filed last August, the Rajkot-based company aims to secure up to Rs 1,400 crore to address debt and enhance corporate operations. View More

Pump and motor manufacturer Silver Consumer Electricals Ltd has completed a pre-IPO secondary share sale worth about Rs 150 crore , with a promoter group member divesting a 2.59 per cent stake as the company prepares its maiden public offering. In a public announcement on Friday, the company said promoter group member Dharamshibhai Mohanbhai Bediya transferred 73,15,288 equity shares to investor Riyaz Suterwala through a secondary sale. The transaction was executed at Rs 205.05 per equity share, aggregating to Rs 150 crore. Following the acquisition, Suterwala will hold a 2.59 per cent stake in the company's pre-offer equity share capital. Silver Consumer Electricals had filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in August last year to raise up to Rs 1,400 crore through an Initial Public Offering ( IPO ). Live Events The proposed issue comprises a fresh issue of equity shares worth up to Rs 1,000 crore and an Offer For Sale (OFS) of up to Rs 400 crore by promoter Vinit Dharamshibhai Bediya. The company will use funds to repay debt and for general corporate purposes. Based in Rajkot, Gujarat, Silver Consumer Electricals manufactures pumps, motors and agricultural equipment under the 'Silver' brand. Established in 1981, the company caters to residential, agricultural and industrial applications through its integrated manufacturing operations. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

The London landmark has served as the primary residence of the British monarchs for nearly two centuries, since Queen Victoria became sovereign in 1837. View More

Northern Arc Capital is aggressively scaling its direct-to-customer franchise to target a 70-75% portfolio share and plans strategic entries into affordable housing and wealth management. View More

The World Cup winners and losers in advertising may be indicative of a broader trend of how people are responding to authentic branding. View More

In this articleLEVINKEMCDFollow your favorite stocksCREATE FREE ACCOUNT General view of the exterior of San Francisco Bay Area Stadium ahead of the FIFA World Cup 2026 Group B match between Qatar and Switzerland on June 13, 2026 in Santa Clara, California.Fran Santiago | Getty Images As people around the world tune into this summer's World Cup, some of the brands generating the most buzz aren't even official sponsors of the tournament.The list of official sponsors for this year's World Cup, hosted in cities across the U.S., Canada and Mexico, include global household names like Adidas, Coca-Cola and Qatar Airways.But even before the tournament began, the spotlight fell on companies like Levi Strauss & Co., Taco Bell and Texas-based convenience store chain Buc-ee's. Some have garnered traction on social media for their creative marketing strategies, while others have benefited from organic customer response with the influx of international players and fans. McDonald's celebrated the tournament with limited-time menu items and cups. Taco Bell leaned into a new campaign to support fans in celebration or support depending on the outcome of a match. According to marketing research firm WARC Media, advertising spending on this year's World Cup tournament is expected to reach $10.5 billion. That's just below spending for the 2018 World Cup, hosted by Russia, which totaled roughly $12.6 billion.Market intelligence firm Sensor Tower told CNBC that World Cup advertising spend increased 42% week over week in the days leading up to the first game. The firm tracked that Taco Bell and Duracell have both increased their advertising spend in the past few weeks, though the top 10 World Cup advertisers by spend over the past three months have been sponsors or broadcast partners of the event.According to market research firm Meltwater, in the ramp-up to the World Cup, non-sponsor brand collaborations generated nearly double the engagement of official sponsors, reaching roughly 61 million engagements versus just 33 million.The firm told CNBC that while sponsored advertisements led in volume, distribution and creative quality helped propel non-sponsors to higher engagement, with the most social media engagement coming from TikTok.Since the tournament began, non-sponsor brands have surpassed 57,000 mentions on social media versus just over 43,000 for official sponsors, the company said. "A big takeaway from this World Cup is that you don't need an official sponsorship to own the cultural moment anymore," Meltwater CEO John Box told CNBC. "The brands that will win the next tournament aren't necessarily the ones with the biggest budgets, but instead the ones who are set up to see what's trending in real time, the creativity to connect it back to your brand, and the speed to act before the moment passes." World Cup results Kylian Mbappé's Nike soccer cleats during a French national team training session at Bentley University in Boston, Massachusetts, on June 20, 2026. The number 58 on the cleats represent the goals scored by Mbappé for the national team.Johnny Fidelin | Icon Sport | Getty Images According to Meltwater, Coca-Cola and Adidas accounted for half of all sponsor mentions in the buildup to the tournament. But in the final 11 days before the first match on June 11, McDonald's became the clear winner, with engagement share rising from 2.6% to 23%. Of the non-sponsors, Lego accounted for 82% of the top 50 most engaging non-sponsor posts across social media platforms, Meltwater said. The construction toy company's World Cup campaign delivered 12 times the sponsor average in the days leading up to the tournament.Nike, who is not an official tournament sponsor, saw its World Cup advertisement — featuring celebrities like Kim Kardashian, Travis Scott and Lebron James as well as scores of World Cup stars like Norway breakout Erling Haaland and Portugal captain Cristiano Ronaldo — rake in more than 70 million views on YouTube. Sneaker rival Adidas counts roughly 7 million views for its advertisement featuring actor Timothée Chalamet, Argentina captain Lionel Messi and more.That gap is indicative of the winners and losers of the off-pitch advertising battle during the tournament, according to Andrew Rohm, a professor of marketing at Loyola Marymount University."It was just interesting how those two brands took totally different approaches to their four- to five-minute pieces of content, and I loved the Nike approach because it was totally on-brand, irreverent, unexpected, in your face," Rohm told CNBC. "You don't have to be an official sponsor to tie back into the cultural social importance of a worldwide global event like the World Cup, especially if you have assets like Nike has that you can deploy towards that."When it comes to the advertising winners of this year's World Cup, Rohm said it's a battle between "the expected and the unexpected." The companies that aren't official sponsors and are therefore not restricted by FIFA are able to have the most fun with their marketing, he said.One brand making the most of its non-sponsor status is denim brand Levi's. Because the company isn't an official backer of the tournament, its branding on the host stadium in Santa Clara, California, had to be removed before matches. The Levi's logo, loosely shaped like a jeans pant pocket, was shrouded in a white covering — but the move counterintuitively generated buzz for the company on social media from amused fans. In a similar move, razor brand Gillette's cover for its logo on the stadium in Massachusetts mimicked shaving cream foam to make light of the situation."What started as a naming rights sponsorship restriction at the Levi's Stadium became the most commented and shared post in Levi's history," Kenneth Mitchell, Levi's chief marketing officer, wrote last week. "Leaning fully into it with a profile change on our social channels sealed the deal."Mitchell added that "strong brand iconography" worked on the company's side, as its distinctive logo remained recognizable even under the covering.According to Meltwater, Levi's led the strongest example of non-sponsor visibility through its marketing, with its mentions increasing by 44% since the start of the World Cup. Engagement with the company increased nearly four times after it leaned into the stadium covering marketing, the research firm found. A shifting ad strategy Jared Watson, an assistant professor of marketing at New York University's Stern School of Business, said he's seen brands having more fun in their marketing during this year's tournament. "I think what you're seeing play out, especially this year, is these brands that are taking sort of a rebellious or a cheeky approach to where they're not officially being aligned with FIFA, and so a lot of consumers are in support of these marketing initiatives, in part because it feels somewhat adversarial to what's happening," Watson told CNBC. "It's kind of stripping away that capitalistic intention from FIFA."Watson said brand success has not come from the marketing alone, but also that some companies are picking up on the frustration consumers feel with the commercialization of global soccer. FIFA introduced mandatory hydration breaks during matches, for example, baking in more time for ads without breaking up the game. The breaks have drawn criticism from fans who say they're unnecessary and a money grab. "There's a little bit of a stick-it-to-the-man mentality of we like to see these brands that are rebelling and pushing back because it's kind of in the spirit of what the World Cup is, which is unity and meritocracy," Watson said. FIFA said in December the three-minute breaks were intended to prioritize "player welfare" and "part of a focused attempt to ensure the best possible conditions for players." Some brands have also found more organic success as fans around the world experience the culture of the World Cup host cities, posting about their newfound affinity for American general store chain Buc-ee's and salad dressing company Hidden Valley Ranch."One of the things that we've seen, which I think has helped a lot of brands that maybe hadn't proactively decided to jump into the advertising fray, is we've seen the delight with sort of basic American things," Watson said. "That has allowed a lot of these brands to kind of slipstream or somewhat reactively jump on these trends and gain some earned media."And in an age of artificial intelligence, marketing that creates an emotional connection and has a human appeal stands out, according to Kelly Cutler, an associate professor of marketing at Northwestern University. "I think it's particularly timely, because I think people feel a little bit sensitive right now with all of the media around AI and all the discussions around AI," Cutler said. "So that understanding at that human level of how important it is when your team wins or loses is so basic and fundamental and creates such a connection."Cutler also said the marketing cuts through generations — younger consumers are more aware of when they're being sold to and are more often resistant. Companies that can develop a deeper bond with Generation Z will find the "golden goose of marketing," she said.For sponsor companies constrained by FIFA regulations, she added, the World Cup may have broader implications for future brand partnerships. "The organizations, obviously they want those sponsorship dollars, and they don't want to experience this type of situation where the brands that are paying nothing are getting a lot of traction and hitting all the headlines and having these really interesting outcomes," Cutler said. "So I do think that it's going to be interesting to watch how this impacts future sponsorship programming." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

As the global race for AI moves forward, a shortage of memory chips has begun to drive up prices of consumer electronics and may lead to product shortages. View More

HP computers at a Best Buy store on Black Friday in New York, Nov. 28, 2025.Victor J. Blue | Bloomberg | Getty Images As the global artificial intelligence race accelerates, memory chips are getting more expensive. As a result, costs of some consumer electronics are beginning to rise for retailers and consumers alike. Memory storage, known as RAM, is crucial for all computing devices, including phones, tablets and laptops. The cost of chips has been rising due to a supply shortage driven largely by massive demand for AI data centers. Companies such as Nvidia, Advanced Micro Devices and Google have been scrambling to secure RAM for their chips. Apple on Thursday announced it's raising its prices on MacBooks and iPads — passing along the rising cost of memory to consumers — with the potential for more price hikes down the road. The memory shortage is an "unprecedented challenge," the company said in a statement.Incoming Best Buy CEO Jason Bonfig said on a call with reporters earlier this month that the company expects its computing division will be the most affected by price hikes."We did see some staggered price increases in Q1, so moving to Q2, we do expect [average sale prices] to increase and units from an elasticity perspective to be impacted," Bonfig said. "We did bring in more inventory in Q1, which you can see on our balance sheet, which does help us to mitigate it." Memory costs Soaring memory costs are expected to reduce global personal computer shipments by 10.4% and smartphone shipments by 8.4% in 2026, according to Ranjit Atwal, a senior director analyst at Gartner, citing February research. Gartner also projected that PC prices will increase by 17% and smartphone prices will grow by 13%, compared with 2025 levels. "What's happening this time around, compared to previous times that memory prices have gone up, is the extent with which prices of memory is increasing," Atwal said. "Secondly is the length of time that we think prices will remain high. ... This one is looking like it won't be until the end of 2027 before we get to any type of regional pricing."While the price increases may not be immediately apparent in stores, Atwal said, it's inevitable that the demand will outpace the supply. Some retailers pulled forward inventory in the first quarter in anticipation of the rising prices, he added, but that cushion can only last so long."It will catch up with everyone," he said. "You end up in a point where you just have no control over what you can do. You have to pass it on, and that's the difference now versus where we were before. The market's more mature as well, so there's an expectation that people are going to buy up anyway."Consumers might not even be aware of the price hikes, Atwal said. Most people upgrade their laptops after four or five years and may not even remember what they previously paid or what the specifications of their old models were, he said.That gap may lead to a somewhat "delayed impact" on consumer behavior, Atwal said, but the eventual effect is bound to hit them soon. Customers still spending So far, Bonfig said, Best Buy isn't seeing any indication that consumers are pulling forward purchases or even that the rising memory costs are affecting their budgets. "What we do with that customer is talk about what they're replacing, talk about what their needs are and talk about how to get them into technology that is going to be substantially better in so many different ways," Bonfig said. "That's really the focus that we will continue to have, to make sure we have that broadness and assortment."A Best Buy spokesperson told CNBC that the company still sees its customers spending and that very few of them are worried about memory. In the first quarter, Best Buy said it saw its ninth consecutive quarter of positive comparable sales in computing.Anthony Chukumba, an analyst at Loop Capital who covers Best Buy, told CNBC he thinks larger retailers such as Best Buy will fare better than smaller ones, because of the market share they hold. As suppliers navigate passing along the added costs, Chukumba said major retailers will have more "leverage" to avoid price hikes for as long as they can."A lot of times, investors think about things too simplistically, like, 'Oh, rising memory costs because of AI, that must be very bad for Best Buy,'" Chukumba said. "There's just nothing that Best Buy can do about it. ... This is their business, they're always managing these changes, and they're seeing the same stuff that you're seeing, probably before you're seeing it, and in much more detail, and so they manage."Chukumba said he believes the long-term impacts of memory costs won't be as significant as they may seem at the moment."Because technology is constantly evolving, constantly becoming cheaper, you can have this headwind of higher memory prices, but if you're buying something relative to what you would have bought a year ago, much less two years ago, it's still going to have vastly superior capabilities, and the consumers are none the wiser," he said.It could also hit other retailers, such as Target, Amazon, Costco and Walmart. Target declined to comment on rising memory costs, and Amazon also declined to comment. Costco and Walmart did not respond to requests for comment. Shortages and hikes Still, the broader risks posed by the memory chip shortage could spell trouble.According to Atwal, the Gartner analyst, the rising costs could lead to consumers holding onto their devices longer, leading to fundamental changes to upgrade cycles for products such as smartphones."Consumers ... will compromise on what they need, and the vendors are going to find it more difficult to push AI features, which are kind of dependent on this, and typically want a premium for them," Atwal said.Earlier this month, a coalition of organizations including the National Retail Federation wrote a letter to the U.S. Treasury and Commerce departments asking the government to examine the "urgent imbalance" of memory chips and the potential for "significant and sustained near-term price increases" for consumers."The real-world impacts of these trends have already begun to show themselves and threaten to deteriorate rapidly if the situation is not remedied," the letter said. The organizations urged the government to work with memory chipmakers and chip buyers to "protect against harm to consumers, workers, and businesses of all sizes."Jon Gold, NRF's vice president of supply chain and customs policy, told CNBC the trend could lead to a shortage of consumer electronics, in addition to the potential price hikes."There's always only so much impact that retailers can take on their own, so they've got to work with their vendors the best they can to try and minimize price increases and the impact that's having on consumers," Gold said. "But the bigger impact is the lack of those memory chips is a lack of products potentially."Gold said that if consumers begin to hold on to devices for longer because of price increases and the cost difference for upgrading, it will affect both retailers and suppliers as the consumer electronics market stagnates."Unfortunately, it's one more complicated factor for a retailer and others who are making long-term plans and who are making contracts six, nine, 12 months in advance," Gold said. "It's very complicated and very complex and more pressure on retailers and manufacturers." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

SpaceX stock has seen big spikes and drop in its opening two weeks as a public company. View More

In this articleSPCXFollow your favorite stocksCREATE FREE ACCOUNT This report is from this week's The Tech Download newsletter. Like what you see? You can subscribe here.Rollercoaster. That's probably the most accurate word to describe SpaceX's opening two weeks as a public company. The stock surged for several successive days following a record-breaking IPO, briefly overtaking both Amazon and Microsoft in terms of market cap and rising more than 60% on the initial share offering price of $135.But the good times weren't set to last. Daily drops of 5% and 4% were followed by a 16% slump as jitters crept into the market. Steadier days followed, with single point moves in either direction.The volatility underscores the whipsaw nature of a story-driven stock.Lofty sci-fi ambitions, huge coverage in the *ahem* media and a founder with a cult-like following whipped up a frenzy of excitement around the company."Most stocks trade based on how their multiple of earnings compares to other comparable stocks," Gil Luria, head of technology research at D.A. Davidson, told me. "Elon Musk companies don't really do that." Musk's ventures instead trade on expectations, he added. "Tesla trades more on [autonomous driving service] Robotaxi and [humanoid robot] Optimus than they do on selling cars, and SpaceX trades more on the promise of Mars exploration, or at least data centers in space," said Luria. A video displays Elon Musk, founder of SpaceX, after the company's initial public offering at the Nasdaq MarketSite in New York on June 12, 2026.Michael Nagle | Bloomberg | Getty Images Retail investors bought into that forward-looking narrative in droves.SpaceX "embodies many of the qualities that have historically resonated with retail investors: a transformational technology story, a bold vision of the future, a celebrity founder and unparalleled media attention," Viraj Patel, global macro strategist at Vanda, said.In the first five trading sessions, retail investors bought a net $405 million of SpaceX shares, comfortably the strongest retail IPO debut in recent history, said research firm Vanda."For SpaceX, the 'cult of Elon' pulls in more retail investors and adds extra hype that can add a lot to volatility as we saw with Tesla share prices," Mike Coop, chief investment officer, EMEA at Morningstar Wealth, told me. Morningstar analysts caused a stir in the run-up to SpaceX's IPO, writing that the stock was worth less than half of its $1.75 trillion target.After a bullish initial few days on the public markets, fundamentals became a bigger driver of the price causing a "hangover," said Kyle Rodda, senior market analyst at Capital.com. Musk has been, in a somewhat predictable fashion, touting sky-high revenue growth in years to come. He said on June 14 that the company "might be able to reach approximately" $1 trillion revenue in 2030.That would mark a huge jump from the $18.7 billion in revenue SpaceX made in 2025. The company posted a $4.9 billion net loss in 2025, and it lost $4.28 billion in the first quarter of this year.Long term SpaceX faces two big challenges on the markets, said Coop. "Firstly, the supply of shares will go up as early investors lighten up exposures and monetise gains," he said."Secondly, the current price is too high given the massive uncertainty around the company's prospects and its starting point of being heavily loss making and requiring huge capital investment."Despite that, so far few have been willing to bet against the stock.Michael Burry of "The Big Short" fame said on June 16 that he has no position in SpaceX, and argued that options used to wager against the stock remain too expensive even as he questioned the company's nearly $3 trillion market value.And while SpaceX is seeing some interest from short sellers, many are still reluctant to bet against Musk.Time will tell how far narrative takes SpaceX stock. In any case, expect more twists and turns on the rollercoaster. Latest updates Anthropic is racing to increase its AI compute capacity in the Asia-Pacific region, as the company scrambles to keep up with soaring demand for its products.OpenAI and Broadcom on Wednesday unveiled their debut custom chip, called Jalapeño, marking the ChatGPT maker's first entry into artificial intelligence silicon.A second worker has died at the construction site of BYD's electric vehicle factory in Szeged, Hungary, CNBC has learned.Apple on Thursday announced price hikes on MacBooks and iPads, its first formal move to pass higher memory and storage costs on to consumers after CEO Tim Cook said increases had become unavoidable.ON Semiconductor has agreed to buy Synaptics in a nearly $7 billion all-stock deal to bolster its push into physical artificial intelligence technology. Stock of the week Stock Chart IconStock chart iconMicron stock. Memory chipmaker Micron had a good week as its third-quarter results topped analysts' estimates.The U.S. company has been one of the main beneficiaries of the AI boom, with its stock price up more than 800% over the past year, lifting the company's market cap past $1 trillion. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.