SpaceX has reduced its IPO valuation target from $2 trillion to $1.8 trillion ahead of its expected June 12 debut. Despite a claimed $28.5 trillion addressable market, the company faces scrutiny over its valuation metrics, with a price-to-sales ratio of 96 at the new valuation, weak growth from its xAI subsidiary (12.5% YoY), and a net loss exceeding $4.9 billion in 2025. Analysts argue the prospective valuation remains unsustainably high.

SpaceX is set to debut on Nasdaq on June 12, 2026, aiming for a $1.75 trillion valuation in what could be the largest IPO in history. A new Nasdaq rule allowing fast-track inclusion into the Nasdaq-100 after 15 trading days could trigger $22-27 billion in mandatory index fund purchases around July 7, potentially causing a sharp stock surge. However, the article warns retail investors to avoid the stock due to its unjustifiable valuation (P/S ratio of 94 vs. historical 30-45 range), sizable operating losses, and historical precedent showing mega-IPOs typically underperform.

Chainlink operates as a 'pick-and-shovel' play in cryptocurrency, providing essential data infrastructure and oracle services across blockchains and traditional finance. The article highlights Chainlink's critical role in the growing tokenization market, particularly through its partnership with the DTCC to enable tokenized stocks on major exchanges. As blockchain technology integrates with traditional financial institutions, Chainlink is positioned to benefit from the expansion of tokenized assets, which could grow from $35 billion today to trillions in the coming decade.

SpaceX, OpenAI, and Anthropic are preparing to go public under Nasdaq's new 'fast entry' rules, which could trigger massive market disruptions. JPMorgan estimates passive funds may need to sell $95 billion in tech stocks to rebalance portfolios. SpaceX's limited public float could create frantic competition among ETFs, while early investors stand to gain significantly from anticipated high valuations.

SpaceX is preparing for an IPO with three key dates: June 4 for the roadshow, June 11 for IPO pricing, and June 12 for the share sale. The company targets a $1.5-2 trillion valuation and plans to raise $50-80 billion. Notably, Elon Musk wants to reserve up to 30% of shares for retail investors, significantly higher than typical IPO allocations.

Green Thumb Industries has filed for DEA registration following the rescheduling of marijuana to Schedule III, positioning itself as a first-mover in the evolving U.S. cannabis landscape. The move could attract institutional investors, enable research partnerships, and potentially lead to major stock exchange listings if recreational cannabis is also rescheduled. CEO Ben Kovler emphasized that this strategic action normalizes the federal cannabis industry.

Moomoo Canada announced Canada's Top Trader, the country's first live, real-money national trading competition in partnership with Nasdaq. The competition features a $1 million prize pool, runs from June 1-30, 2026, and uses institutional-grade performance metrics to rank traders fairly regardless of account size. Moomoo also launched API Skills, a professional-grade facility for algorithmic investing.

BlackRock and State Street have filed with the SEC to launch their own Nasdaq-100 tracking ETFs, ending Invesco's monopoly in this category. The move comes after Nasdaq recently expanded access to the index. Invesco QQQ, which tracks the Nasdaq-100 and has $372.5 billion in assets, will now face direct competition from these two major investment firms.

Nasdaq, Inc. (NDAQ) announced that its Board of Directors has declared a regular quarterly dividend of $0.31 per share, payable on June 26, 2026 to shareholders of record as of June 12, 2026. This represents an increase from previous dividend levels.

The Nasdaq recently changed rules allowing new stocks to join the Nasdaq-100 index within 15 days of their IPO, down from over a year previously. This makes the Invesco QQQ Trust ETF an attractive option for investors seeking exposure to high-profile upcoming IPOs like SpaceX, OpenAI, and Anthropic. The QQQ has delivered 460% returns over the past decade, significantly outperforming the S&P 500's 230% gains.

U.S. stocks are pointing to a positive open as optimism grows around potential Middle East resolution and peace talks between the U.S. and Iran. Oil prices have fallen below $100 per barrel and softer-than-expected producer price inflation data (4.0% vs. 4.6% expected) are supporting equities. The Nasdaq 100 has recovered to around 25,500, breaking above key resistance levels. JPMorgan Chase posted stronger-than-expected Q1 earnings, while Wells Fargo missed on revenue despite an earnings beat.

Galaxy Digital is set to become the first US public company to conduct a shareholder vote on-chain in May 2026, facilitated by Broadridge Financial Solutions on an Avalanche Layer 1 network. This milestone represents a significant advancement in tokenized equities, moving them from passive holdings to fully functional governance vehicles with complete shareholder rights. Broadridge's platform already processes $8 trillion in tokenized assets monthly, while major exchanges including Nasdaq and NYSE have accelerated their own on-chain equity frameworks.