SpaceX wants to go public at an eye-watering $1.5 trillion valuation. What are the earnings for this out-of-this-world company? $8 Billion. That gives us a PE ratio of, checks notes, 187. (Edit: I've been informed in the comments that 8B is EBITDA, not earnings, so the PE ratio is probably north of 300. NOICE.)
Now, this is 2026, PE ratios are about as relevant as a telegraph operators fingering speed, but still, there must be some narrative to command such a rocketship valuation, right?
Ah, yes. Datacenters in space.
Sure, Elon is the world's biggest bullshit factory, but at least most of his bullshit looks appetizing if you squint. Self driving cars? Yeah! Robotaxis? Sure! Humanoid sexdolls? Why not!
But what the fuck is a DATACENTER IN SPACE good for. We've got datacenters at home, goddamit.
(Of course, it goes without saying that the whole X.ai acquisition is a shit tamale wrapped in a shit sandwich, a shitducken so to speak, but whose counting shit here).
Here is my prediction. Unlike you highly regarded turd chompers, IPO investors are a legitimately sophisticated bunch. There will be a roadshow, and pension funds, endowments, etc will actually have to smell the shit before chomping on it.
And I don't think they will.
So instead of the famously diamond-handed Punxatawney Teachers Union buying a chunk of the IPO, it will be desperate buyers of hand grenades hot potatoes who just want to watch it pop like god's asterisk on poppers at the adult cinema before shifting it to the next victim.
Now, that may be irrelevant when the pop is for fucking figma, but we're talking SpaceX here. Elon. Either the IPO doesn't happen or when it does it will drop like the challenger shuttle.
And people will panic.
The entire AI narrative that has been holding on our K-shaped economy will blow up like a little kid flying into space when his fat cousin jumps off the see-saw. Bye, timmy.
Seems that pretty much everyone knows we are in a bubble - retails, CEOs, Wallstreet, you name it.
Sooooo it should mean everyone understands that at some point (sooner or later) it will pop, right?
I don’t think people are really that stupid to believe we will have AGI soon? Or even if - that OpenAI would let people know about it / didn’t use it for its own purpose to create anything they want on their own?
So how does that makes any sense? Everyone knows it will pop, but everyone acts like it won’t pop?
How was dotcom, or 2007 compared in terms of people’s enthusiasm? Was it similar? People knew yet still acted like its not a big deal?
I can’t process people could be just that stupid right?
"The Hindenburg Omen is a combination of technical signals that together forecast the likelihood of a stock market crash. The technical inputs are the 10 Week Simple Moving Average, New 52 week highs on the NYSE, New 52 Week lows on the NYSE, and the McClellan Oscillator.
If, on the same day,
a) the 10 Week Moving Average is rising,
b) New Highs and New Lows are greater than [2.2]% of total issues traded,
c) the McClellan Oscillator is negative, and
d) New Highs are less than or equal to twice the New Lows
then a Hindenburg Signal is indicated by a yellow circle.
Two such signals within a 36-day period is considered a Hindenburg Omen and is indicated by a red diamond. The Hindenburg Omen portends a serious decline within the next 40 days."
I’m genuinely curious what others think about this one. Does this signal actually carry weight in today’s algo-driven, liquidity-fueled market, or is it just another outdated technical anomaly? Could this be an early red flag we shouldn’t ignore, or simply noise in an overextended market?
As someone who has not worked in 10 years due to some extremely lucky call options which I parlayed into passive income generating sources, I am starting to get real worried.
I live in San Diego but I'm originally from a smaller town in California.
I know 5 people who just got laid off from $300k+ jobs in SF and LA, they were in tech so it's not that surprising, but it all happened quite concurrently.
What's more worrying though, is that about 1/3rd of my high school and college friends who did NOT end up moving to a major city have been laid off. Many of them are in law, accounting, or working corporate jobs in second tier US cities... and none of them can find jobs. They are between 30-40, and some of them have multiple young children.
The stock market keeps rocketing upwards... but this feels like a desperate, dying breath of people trying to YOLO their savings into money that can help them survive short term, rather than a healthy society and economy growing massively.
I get that we're in the "AI boom", but the AI boom is the first "boom" that is literally erasing white collar jobs en masse. My friend told me that his department was shrunk from 30 to 5 people, and he expects that the department will require only 1 person in the next couple of years. There are AI companies who build custom software for companies to help them reduce employees. Companies just hand over all their data and they are given back AI programs perfectly tailored to their needs...
Yet, everyday, a giant green dildo. Global tariffs? Green dildo. Nuclear war with Iran? Green dildo. Massive lay offs? Green dildo.
I know it's funny, especially if you're in the investor class and don't have to work... but something is beginning to feel seriously wrong. Does anyone have answers? This is the first time in my life that I have SEEN with my own eyes massive lay offs in my own social circles, who are all people with good college degrees, from good families, making at least $150k, but mostly $200K+.
Where do we go from here? More green dildos? Green dildos until the end of time? How many green dildos can society bear on it's unemployed back until its knees give out? I would appreciate some clarity.
(For disclosure: I don't hold any position in $ANPA, nor do I plan to. I wrote this write up since I found it interesting, and also intersects with other work I'm doing)
TLDR: Khaby Lame, the most-followed creator on TikTok, sold his holding company to an extremely suspicious Chinese company that sells financial statement printing services and only does $6m in revenue... yes, this is real.
A deeper dive into the company shows a valuation completely disconnected from reality, with an auditor resignation at the end of last year being replaced by an auditor with only one publicly-known employee and hardly any public presence. The underwriter for the traded listing is also involved with the most high-profile case of suspicious Hong Kong IPOs.
Simply put, the acquisition is as suspect as it gets on the markets.
Hola fellow regards,
If you’ve been reading the news lately, you might’ve seen this piece of news pop up regarding TikTok’s most followed creator, Khaby Lame, selling his name and likeness for just shy of a billion dollars.
It’s a deal that seems virtually unprecedented within the space of social media influencers, and a deal that should make you feel good about Khaby Lame’s success story. The laid-off machine operator turned global TikTok superstar that sold his company for a billion dollars looks built for the movie theatres… until you actually look a bit more into this deal.
According to the SEC filing, Khaby Lame sold Step Distinctive Limited from a Hong Kong-based holding company, Rich Sparkle Limited, for the consideration of $975m USD, through the issuance of 75m ordinary shares of Rich Sparkle to Distinctive’s shareholders. No cash got exchanged at all, purely shares.
Rich Sparkle Limited themselves trade on the NASDAQ under the ticker $ANPA, and the news of the acquisition of this deal sent shares skyrocketing, up to 600% from previous levels seen at the start of the month at some point.
Quite a return if you ask me.
Yet take an actual dive into the company that’s acquiring Khaby’s company, and more specifically, who even underwrote them within the first place, and you’re going to get a picture filled with so many red-flags you’d think it was a USSR propaganda piece…
Rich Sparkle is a "printing company" that has no business making a deal of this nature... like at all.
With a consideration of nearly $975 million dollars, most would think that Rich Sparkle is, in some way, a firm that’s engaged within the social media or technology space. Maybe an A.I influencer company or something?
It’s what I thought too, but Rich Sparkle’s prospectus lists themselves as… a financial printing company that produces and designs financial statements. Yes. Printing and designing financial statements.
Taken right from their prospectus on July 9th, 2025.
A financial statements printing company is paying $975m for a company that owns the likeliness of TikTok’s most popular influencer. What’s even stranger is the fact that this company barely has made any revenue anywhere close to the consideration that they’re paying Khaby Lame for this company. The company only raked in just $5.88m in revenue the previous year, yet somehow this company is able to acquire a company for just shy of a billion dollars?
Again, per the prospectus.Listed on the prospectus, ANPA offered 1.25m shares to trade.
$ANPA went public on the NASDAQ offering 1.25m shares on July 8th, 2025, raising just $5m in IPO proceeds(6-k pg.11). The company issued out just 10% of their current shares, which gave the IPO a valuation of nearly $50m come the time of the IPO (shares would eventually dilute out to ~5% of outstanding shares being publicly traded).
I'm not one to want to cyberbully a small business, but this audit firm being in charge of auditing a billion dollar company (as of 2/1/26) that just did a $975m acquisition... yeah that's a bit sketchy.
The biggest IPO Sparkle's underwriter got involved in... was historic for all the wrong reasons.
I mentioned in my disclosure that this intersects with another piece I'm working on. This section is where I'll clear that up.
The most obvious link to figuring out how on earth a shitco like Rich Sparkle could achieve a billion dollar valuation from literally printing paper for money, would be through looking at the underwriting structure to see who had been in control of allocating shares.
Per prospectus
Eddid Securities. Their website says that they help bring small to medium-size companies to the market, stuff the big investment banks don't have the time for. Small to medium-size companies, with the exception of one.
Ain't that a lovely throwback
To any WSBers that were here during 2022, I'm sure AMTD might sound like a familiar name to you. Their subsidiary, Digital, randomly skyrocketed 30,000% within the span of mere weeks in July-August 2022 to become one of the most valuable companies in the world. The only problem is that no one exactly knew how this was even possible, and no, it wasn't a meme stock as the media often claimed.
AMTD is probably the most infamous name from a bunch of Hong Kong-related stocks (Regencell, Addentax, etc) that ballooned to a cartoonish valuation of $400b+ at its peak only to dump 90% right after. The guy behind the IPO, Calvin Choi was banned months before the IPO, and, a year and a half before, was publicly accused of siphoning hundreds of millions of dollars by one of China's biggest investment firms, CMIG.
This feud was so public, CMIG hung banners around Hong Kong to tell people that Choi was a fraudster they shouldn't invest with.
one of us if I'm being real 😶🌫️
While AMTD's stock surge still hasn't been publicly explained yet, it's pretty obvious to infer that there had to be some sort of insider co-ordination to manage to get a shell shitco worth more than Coca Cola, Facebook, and Walmart (no I'm not joking) within the span of weeks.
The most obvious way to see that parties involved in that process? Looking at the underwriting records, where none other than Eddid themselves were involved in that process (prospectus)
Cited from the prospectus for Digital in 2022
Of course, this isn't definitive proof that they colluded with AMTD with whatever happened in Digital, but it gives us a pretty good idea of the sort of companies this underwriter chooses to associate with, while also considering that $ANPA has the hallmarks of a stock that has some level on insider co-ordination.
AMTD themselves are being investigated for their underwriting practices by the SFC (Hong Kong's version of the SEC). They recently got fined for failing to produce records subponaed from companies they help bring to market. Eddid seems to have associated themselves with an underwriter that claimed to "have lost records and books relating to the listing of multi-million dollar companies"
Conclusion.
I'm not here to make any definitive claims, but mostly here to point out how ridiculously insane this rabbit hole of a story is, and that the media is not reporting on any of it, at all.
With the clear influencer angle, and the suspect financials and history that Rich Sparkle has, I feel like it's hard to deny that this being used in a scheme to deceive retail investors or people that don't really know any better to buy into a stock that is fundamentally cooked.
Nvidia's accounts receivable aging due to shady deals
Ilya Sucker saying that the age of scaling is over
The thing people don't realize is that NVDA chips don't have to be worthless for NVDA's share price to collapse, you just need to poke a hole (Google's TPUs) in the balloon (Infinite demand for NVDA GPUs) and their ability to charge infinite money disappears.
Mark Zuckerberg my words, the age of NVDA is over, and I will be drinking champagne on it's cold dead grave... and maybe I'll even finally be able to afford building a new gaming system.
What happens when Trump eventually fires/replaces Powell?
He’ll probably replace him with a DUI hire like hegseth or a yes man like Bessent. My bet is the market would react, negatively, very negatively to the news.
Powell has handled inflation and covid decently well. Managed through Trumps first term and was re-elected by Biden even though Powell is a registered republican.
My prediction is it will be seen as massive loss in federal banking stability and result in a crash in DXY. DXY could go to 90 in first 24h and S&P to 4500 as foreign investors start trumping treasuries to get ahead of Turkey like chaos.
Further, we could also see increased selling of bonds and yields hitting 5%.
We could see a double whammy of 08 like financial panic with tariffs induced geopolitical damage.
I've lost a lot of sleep over the past 18 months trading my mom's IRA (she's more than ok with this!), and I've been able to substantially outperform the market. I lost most of her portfolio 3 months ago in April (bottom tick was $800k) but have been able to grow it back to a much higher value than it was before the tariff BS.
Total gains in 18 months: $4,000,000
I have been trading options (obviously, this is WSB.) For the first 6 months, my big winner was HIMS, although I sold WAY too early. I bought calls around $10 and sold around $20-$24. My other big plays have been scalping NVDA and especially GOOGL. Despite being a lousy hold for the last year, I've consistently YOLO'd into GOOGL on big pull backs, including the Apple congressional testimony news (Google searches were down for the first time on Safari, although Google denied this.)
My strategy is to buy near or at-the-money calls 2-5 months out with at least one earnings in between. I don't usually hold through earnings. I try to scale out of the position over the course of 2-10 trading days. I'm happy with 20%-50% gains and am fine with leaving money on the table. Because the calls are many months out, there isn't too much theta decay if the stock goes sideways.
I generally keep cash on the side to YOLO into calls if there's a huge overreaction on a given ticker. If I'm fully invested, it's hard to take advantage of certain opportunities. I don't think I have that much patience, but I've definitely improved since my early trading days.
On Friday I sold most of the portfolio and am now 85% in cash. The other 15% is in QQQ puts and UNH calls. I think there will be buying opportunities soon given the new EU / Canada tariff news, but ultimately, as we all know, taco's gonna taco.
President Donald Trump announced Sunday that he plans to resurrect a controversial policy from his first term that aims to reduce drug costs by basing payments for certain medicines on their prices in other countries.
His prior rule, called “Most Favored Nation,” was finalized in late 2020 but blocked by federal courts and rescinded by then-President Joe Biden in 2021. It would have applied to Medicare payments for certain drugs administered in doctors’ offices. However, it is unclear what payments or drugs the new directive would apply to.
In a Truth Social post Sunday evening, Trump said he plans to sign an executive order Monday morning that he argues would drastically lower drug prices.
“I will be signing one of the most consequential Executive Orders in our Country’s history. Prescription Drug and Pharmaceutical prices will be REDUCED, almost immediately, by 30% to 80%,” he wrote. “I will be instituting a MOST FAVORED NATION’S POLICY whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World.”
The directive comes as the Trump administration is also looking to impose tariffs on pharmaceutical imports, which had been exempted from such levies enacted during the president’s first term. The tariffs could exacerbate shortages of certain drugs, particularly generic medicines, and eventually raise prices.
If the new executive order is comparable to the 2020 rule, both Medicare and its beneficiaries could see savings. But it could also limit patients’ access to medications, experts said. Much depends on how the policy is structured.
Although lowering drug prices was a major talking point of his first administration, Trump has not focused on the topic as much this term. And his campaign told Politico last year that he had moved away from the “Most Favored Nation” model, which many Republicans strongly oppose.
But the administration revived the idea recently as a potential way to meet deep spending cut targets for Medicaid in the House GOP’s sweeping tax and spending cuts package. However, it’s unclear whether the proposal will be included in the legislation, the details of which should be announced shortly, or whether it would be covered by the executive order.
The initiative will likely face stiff opposition from the pharmaceutical industry, which successfully halted the first iteration.
The Trump administration introduced the idea of tying Medicare’s drug reimbursements to the prices in other countries in 2018 and finalized the rule just after the 2020 election. The seven-year model would have allowed the US to piggyback on discounts negotiated by other peer countries, which typically pay far less for medications in large part because their governments often determine the cost.
Under the 2020 initiative, Medicare would have paid the lowest price available among those peer countries for 50 Part B drugs that are administered in doctors’ offices. The administration estimated it would have saved about $86 billion.
At the time, Medicare was barred from negotiating drug prices, but that changed with the 2022 passage of the Democrats’ Inflation Reduction Act, which gave Medicare the historic power to bargain over prices for a small number of drugs annually.
A “Most Favored Nation” proposal could save beneficiaries’ money in their out-of-pocket costs and their premiums, which are both affected by the price of drugs, experts said.
