Wall Street Roundup: Trillion dollar baby
6/12/202611 min
SpaceX's historic IPO (0:20) Oracle earnings similar to other hyperscalers (6:30) Inflation is still hot (8:35)
Episode transcripts: seekingalpha.com/wsb
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First 90 secondsReena Sherbill· Host0:00
[upbeat music] It's Brian Stewart. It's Wall Street Roundup. It's the middle of June. We are happy to be here. Welcome back to the show.
Brian Stewart· Host0:16
Great to be here.
Reena Sherbill· Host0:17
Talk to us, Brian Stewart. We've got SpaceX. Nobody's talking about it, though. Just kidding. [laughs] Everybody's talking about it. What's top of mind this week?
Brian Stewart· Host0:26
I think we, we have to talk about SpaceX, though I agree with you that it's been maybe a little overdone at this point, but it is certainly the, the biggest story going today. So, um, as we started recording, uh, I, I'm not sure if it's, um, opened yet, but it was priced at 135 a share, raised about $75 billion, so valued just below 1.8 trillion as it comes to market. So we've kind of in one shot added a- another trillion-dollar company to the list. So maybe we're looking at the Mag Eight at some point. But, um, very, um, very high demand. Um, the last kind of report that I saw was 3.5 times oversubscribed in terms of selling the stock. It's kind of a typical Musk stock, um, in the sense that it's very similar to Tesla. Um, there's some argument that maybe it's overvalued based on the revenue that it has, but you're really buying sort of the, the future promise. So the... Like Tesla, if you take it as a car company, it's kind of a meh car company. Um, s- seems to have kinda plateaued. Um, but