Dear Reader,

SPCX is live on the Nasdaq.

But according to a market expert who called AMD's stock in Barron's before it rose as high as 7,100%...

The best way to potentially profit from SpaceX is not by buying or selling its stock.

Instead, I believe the biggest opportunity will come from a quiet "side project" SpaceX just had to disclose to the SEC on page 224 of an official filing.

This single project could eclipse everything else SpaceX is doing... and the market for this technology could grow 100 times bigger than SpaceX's regular launch business today.

And a small group of stocks is making this venture possible.

Today, you have a chance to back these companies that are making SpaceX's next big venture possible before the mainstream hears about this.

This news has already appeared in official government documents... and it has been confirmed by satellite images, too.

So this is poised to spread – fast.

Before that happens...

Click here to see how you can profit from SpaceX's new post-IPO venture – without touching SPCX.

Regards,

Rob Spivey
Director of Research, Altimetry

BREAKING NEWS

🐻 The Market Is Playing Mind Games

Here is a puzzle that will melt your brain. A scary chart is going around showing that almost 60% of tech stocks are in a bear market, meaning their share prices have fallen at least 20% from their recent highs.

Coinbase is down 69%. Oracle and Salesforce are both down 57%. Those are not tiny pullbacks. They're brutal drops for companies many investors thought were rock solid. Yikes.

But here is the twist: the stock market itself just hit a brand new record high. The Dow, one of the most famous scoreboards, just climbed above 53,000 for the first time ever. So on the same week that a "everything is crashing" chart went viral, the market was actually throwing a party. How can both of those things possibly be true at once?

Here's the secret hiding in plain sight:

• 🎭 A few giants are carrying the team. The market's scoreboard, like the S&P 500, is ruled by a handful of massive winners. When those few keep climbing, the whole index looks great, even while tons of smaller stocks quietly bleed underneath.

• 📊 Averages hide the pain. Think of a classroom where two kids ace the test and everyone else flunks. The "average" might still look okay, but most of the class is struggling. That is the stock market right now.

• 🔄 Money is playing musical chairs. Investors keep dumping yesterday's hot stocks and piling into today's, so the winners and losers keep swapping seats. Just this week, chip stocks got hit again while other names caught the money.

The Munch Take: The lesson here is simple but powerful: the headline number is not the whole story. When someone tells you "the market is at record highs," that is technically true, but it can hide the fact that most stocks are having a rough time. It’s like walking into a party, seeing two people dancing on the table, and thinking everyone is having a blast, while the rest of the room quietly sits in the corner. So the next time you hear the market is booming, don’t just cheer at the headline. Take a peek at who is actually dancing and who is stuck against the wall. That little habit is what separates the smart money from the crowd.

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STOCK OF THE DAY

💸 $10,000 In PayPal Five Years Ago Is Worth $1,541 Today. Ouch.

Here’s a painful math problem. If you had invested $10,000 in PayPal stock five years ago, it would be worth about $1,540 today. That’s not a typo. The stock is down roughly 85% from its high, sitting near $45 after once trading above $300.

So what happened to the king of online payments?

In one simple word: competition.

For a long time, if you wanted to pay for something online, PayPal was pretty much the only easy button to press. That made it super powerful. But then a bunch of new companies showed up offering the exact same thing, sometimes even faster, easier and cheaper. Little by little, shoppers had lots of other ways to pay, and PayPal went from being the only game in town to just one of many. When that happens, the money stops growing, and the stock price follows it right down.

Here's what went wrong:

• 🍎 Everyone copied their homework. Apple Pay, Cash App, and a bunch of others swooped in and offered the same thing. Suddenly PayPal was just one choice among many, and its growth slowed to a crawl.

• 🔄 The boss got benched. Growth stalled so badly that PayPal's board fired its CEO in early 2026 and hired the former head of HP to try and fix the mess. Companies do not swap captains like that unless the ship is taking on water.

• 🛒 A rival wants to buy the pieces. Things got so cheap that Stripe, a big private payments company, reportedly looked into buying part or all of PayPal. When the wolves start circling, you know the animal is wounded.

But here is the other side of the coin.

For all the doom and gloom, PayPal is far from dead, and that is exactly what makes it interesting. This is still a giant with about 430 million users and a mountain of cash flowing in every year. A wounded animal is not the same as a dead one. Here is what would make this stock an incredible buy, and what needs to happen for it to turn around:

• 💰 It is dirt cheap and buying itself back. The stock trades at only about 8 times earnings, which is bargain-bin pricing for a company still making billions. PayPal is using that cash to buy back its own shares, which quietly boosts the value of every share left. If the turnaround works, today's price could look like a steal.

• 📱 Venmo is the sleeping giant. PayPal owns Venmo, the app millions of young people already use to split dinner. Right now Venmo barely makes money, but if PayPal figures out how to turn all those users into paying customers, that is a huge growth engine hiding in plain sight.

• 🤝 The new boss just needs one win. A fresh CEO with a track record of fixing big companies is now in charge. If he can get growth moving again, even a little, nervous investors could come flooding back fast, because everyone loves a comeback story that is already this cheap.

The Munch Take: Here is a lesson worth remembering. Being first does not guarantee you will stay on top. PayPal created the online payments market, but other companies caught up because having a great idea is not enough if you cannot keep your advantage. The interesting part is that PayPal stock is now very cheap, trading at about 8 times earnings. That is often the kind of price where long-term investors start looking for opportunities. A beaten-down stock with a fat pile of cash, a hidden gem in Venmo, and a new captain at the wheel is exactly the kind of setup that can surprise everyone if the pieces come together. A stock that has fallen sharply is not always a bad business. Whether PayPal is a trap or a treasure, only time will tell.

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🍪 Munchy Memes