Good morning investors! Investors appear confused as the Iran situation continues to worsen.
Today we cover:
US-Iran trade fires
SpaceX IPO explained
Bitcoin keeps falling
📊 Economy and News
US Strikes Iran, Iran Retaliates
The US military conducted strikes against Iran in retaliation for the downing of a US Army Apache helicopter by an Iranian drone. A US drone boat rescued the two crew members. It remains unclear whether the helicopter was intentionally targeted.
The Trump administration believes the strikes will not derail ongoing war talks.
Iran’s Revolutionary Guards claimed they responded by launching strikes on US targets, including a military base in Jordan and sites in Kuwait and Bahrain. Foreign Minister Abbas Araghchi warned that no US attack would go unanswered.
Global hits:
Poland forecasts 3.1% GDP growth for 2027.
China May wholesale inflation hits near 4-year high on Iran war, AI costs; CPI misses.
Japan’s largest banks to jointly issue stablecoins by March 2027.
Reminder: Social Security depletion date moves up on lower fertility and tax changes. Also, Gold could slump another 20% by September, says Citi.
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📈 Stocks
S&P 500 7,386.65 (-0.26%)
DJIA 50,872.11 (+0.17%)
NASDAQ 25,678.82 (-0.97%)
BRENT CRUDE 92.14 (-0.17%)
* Prices as of Mar 3rd, 12:20 AM UTC
SpaceX IPO Explained: Fixed $135 Price Set, Retail Gets Big Slice
SpaceX is set to launch its highly anticipated IPO on Thursday with a fixed share price of $135, skipping the traditional price range and book-building process. The move gives investors a “take it or leave it” offer at a massive $1.77 trillion valuation.
The rocket company plans to stop accepting orders on Wednesday to allow more time for share allocation on Thursday. It aims to give retail investors roughly 30% of the shares — about $22.5 billion — far above the typical 5–10% in most IPOs. Brokerages including Robinhood, Fidelity, Charles Schwab, SoFi, and E-Trade will offer shares to retail clients.
While the price is locked in by Elon Musk, the massive $75 billion offering still requires traditional allocation to underwriters and institutional investors before trading begins Friday.
SpaceX reported $18.7 billion in revenue last year but posted a $4.2 billion operating loss. The fixed-price approach is unusual for an IPO of this scale, but it reflects Musk’s control and strong investor interest in the company.
In addition, OpenAI is also set to go public.
Interesting: GM eyes new battery chemistry to grow AI data center, energy storage business.
Anthropic releases Mythos-like AI model to the public two months after private rollout rocked Wall Street.
Surprising: Super Micro said it plans to raise $7 billion in equity-related sales to cover the costs of hardware component purchases, sending the stock down -7%. In other news, Kalshi rolls out whistleblower services, employment verification to curb insider trading as Kalshi trading in ‘perps’ crosses $1 billion in volume within a week of launch.
💵 Personal Finance
Bitcoin Treasury Trade Faces First Major Stress Test
Strategy’s stock plunged 24% in its worst week since November 2022, signaling the first serious stress test for the Bitcoin treasury model. The drop comes as Bitcoin trades 50% below its October peak.
Strategy has long served as the blueprint for companies holding Bitcoin as a primary treasury asset. While it maintains a valuation premium over its Bitcoin holdings and retains strong levers — including a $900 million cash reserve, flexible financing, and active management — many newer “Bitcoin treasury” imitators trade at discounts to their net asset value and lack comparable resilience.
Analysts say the prolonged downturn will separate disciplined players from those that relied on heavy leverage or hype, testing which companies can survive and continue accumulating Bitcoin through market dislocations.
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