Elon's next IPO could be the biggest in history

Dear Reader,

SpaceX is reportedly preparing to file its IPO paperwork — at a rumored $1.75 trillion valuation.

That would make it the largest IPO in history.

And here's what most investors are missing: when the news first broke, the entire space sector moved in a single session. Rocket Lab, AST SpaceMobile, Firefly — all up double digits. On news alone.

SpaceX still isn't public. Which means the window that just gave us a preview… is still open.

Matt Tuttle — CEO of Tuttle Capital Management, featured on Bloomberg and CNBC — is going live on April 16th at 2 PM ET to walk through exactly what this means and how to position before the IPO makes it consensus.

It's free. There's a live Q&A. But spots are limited and the session is days away.

👉️ Click here to reserve your free spot

☕️ GM Munchers! My alarm went off this morning and I genuinely considered a career in farming. No oil exposure. No crashing stock market. Just dirt and silence.

On today’s menu:

• 📉 Peace Talks Dead. Brace Yourself.

• 🔥 Inflation Is Back. The Fed Is Stuck.

• 😢 Bitcoin Dropped Over The Weekend

• 🚀 Trump Pumped $PLTR On Truth Social

• 😬 This Prop Firm Is Getting Sued

Yesterday’s numbers:

BREAKING NEWS

📉 Peace Talks Dead. Brace Yourself.

I'm still recovering from all the golf and hockey I watched over the weekend and it's got me feeling the Monday Scaries. Thankfully we're returning to a roaring and booming stock market, right? Right?

Yeah, no.

The big news is that all peace talks with Iran have fallen apart. And in a wild turn of events, the US is now the one blockading ships in the Strait of Hormuz. Oil is ripping higher as a result.

Here is where things stand right now:

• 🛢️ WTI crude oil jumped nearly 8% to over $104 per barrel overnight. Brent crude is above $103.

• 🇪🇺 European gas futures spiked as much as 18%. Heating oil, which tracks jet fuel prices, jumped 10%.

• 📉 S&P 500 futures are down 1%. Nasdaq futures are sliding 1.3%. Dow futures are down more than 500 points.

• ⛽️ Gas at the pump was already averaging $4.12 a gallon on Sunday. Iran's parliament speaker trolled the situation by posting a map of gas stations near the White House, writing "enjoy the current price. You will soon miss $4 to $5 gasoline."

What This Week Looks Like: Earnings season kicks off with the big banks.

• Goldman reports Monday. JPMorgan, Wells Fargo, and Citi follow Tuesday.

• JPMorgan's commodities team warned Sunday that the last tanker to clear Hormuz before the war is expected to reach its destination around April 20.

• After that, pre-war oil barrels are fully exhausted from the global supply chain. That is one week away. If nothing changes, the supply crunch gets dramatically worse in real time, not just on paper.

The Munch Take: Last week the market was cautiously hopeful. The ceasefire was holding. Oil was falling. The Fed could breathe. Now we have a naval blockade, oil back above $100, futures in the red, and Iran's parliament posting memes about our gas prices. The optimism lasted about four days. My wife asked me Sunday night if this week was going to be bad. I told her probably. She nodded, went to bed, and somehow fell asleep instantly. I stared at oil futures until midnight. She is built differently.

🔥 Inflation Is Back. Americans Are Miserable. The Fed Is Stuck.

Just when you hoped inflation finally got the hint, it climbed back in through the bathroom window and started setting up a tent in your living room.

Here is what the numbers said on Friday:

• Inflation rose 3.3% over the past year. That is up from 2.4% last month. The biggest jump since June 2022.

• Gas prices alone went up 21% in one month. The biggest single-month gain in 59 years.

• The good news: prices for everything except food and energy barely moved. The war is causing this. Not a broken economy.

• Consumer sentiment just hit an all-time low of 47.6, down from 53.3 in March. Americans are scared. And they are not wrong to be.

The Fed's Problem: The Federal Reserve controls interest rates. Think of rates like a thermostat for the economy. Right now the room is too hot. But if they turn the heat down too fast, the whole house gets cold. So they are doing nothing. Just watching. Waiting.

The One Reason To Be Hopeful: Oil. Crude dropped roughly 12% last week after the US-Iran ceasefire was announced. If oil keeps falling, gas prices follow. And if gas prices fall, this whole inflation scare could look very different by summer. As of Saturday, JD Vance is in Islamabad for peace talks and no agreements have been made yet. The ceasefire is shaky. The Strait of Hormuz is barely open. Nobody actually knows what happens next.

The Munch Take: The scary number is 3.3%. The important number is 0.2%. Core inflation is fine. This is a war story, not an economy story. If the ceasefire holds and oil keeps dropping, the Fed gets to relax and we all go back to worrying about normal things. If the ceasefire falls apart, buckle up. My wife saw the gas prices last week and said we are only driving to places we absolutely need to go. I assumed that included my in-laws. I was wrong.

The Market Isn’t Breaking. It’s Resetting. (Ad)

There are warning signs all around us - rising debt, persistent inflation pressure, and higher-for-longer rates.

The macro environment is shifting, but most of us aren’t even aware it’s taking place.

This isn’t a crash call. It’s a framework for understanding what markets are repricing so you don’t miss out.

If you want context before volatility becomes obvious, start here.

👉 Get the free American Reset briefing

MARKET OVERVIEW

🍿 Tasty Movers & Shakers

🔥 Sam Altman's house was hit with a Molotov cocktail over the weekend. Nobody was hurt. A suspect was arrested at $OPENAI headquarters roughly an hour later after threatening to burn the building down. The AI boom has apparently created a new category of unhinged superfan.

🪙 $BTC dropped roughly 3% Sunday night when news broke that Iran talks had collapsed. It is still holding above the $70,000 support level but is down roughly 18% year to date. Not a great hedge against geopolitical chaos so far.

☁️ $CRWV CoreWeave ripped 10.87% after locking in a multiyear deal with Anthropic to provide the compute power needed to train and run its AI models. Being Anthropic's landlord is apparently a very good business right now.

🛡️ $CRWD CrowdStrike and $PANW Palo Alto Networks dropped 3.97% and 6.74% respectively, as the Claude Mythos AI disruption story continued to hammer the cybersecurity sector. The market has decided that AI is eating these companies alive. The companies disagree. The market does not care.

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STOCK OF THE DAY

📉 Trump Pumped $PLTR On Truth Social. The Stock Still Went Red. That's New.

This story has two characters. And they are both fascinating.

First, Michael Burry. The man who called the 2008 housing crash posted that "Anthropic is eating Palantir's lunch" in enterprise AI. The post was deleted. The damage was not. $PLTR dropped nearly 7% when he posted that.

Then Trump stepped in. On Friday morning, the President of the United States posted on Truth Social that Palantir has "great war fighting capabilities. Just ask our enemies." The stock ticked up briefly. Then went red anyway. It closed down on the day, sitting around $128 and is down 23% YTD.

Here is why that matters:

• Trump's ability to move stocks with a post used to be a near-guarantee.

• When he announced the US government was taking a 10% stake in Intel last August, it was a rocket launch.

• Intel went on to gain 122% from the purchase price. Stocks he touched went up. Full stop.

$PLTR got the presidential seal of approval and still finished in the red. The market shrugged at the leader of the free world.

The Munch Take: When a presidential Truth Social post stops moving markets, something has changed. Either the market has figured out that words are not contracts, or the Burry bear case is so heavy that not even Trump can lift it. Probably both.

TRADING SUCCESS

🤑 Monday Motivation

🚀 Pre-Market Fuel

1. 🚀 How to profit from the biggest IPO in history ($49).

2. 🤯 This mineral stock is up 273% YTD.

3. 😬 This prop firm is getting sued.

4. ⏰ The SpaceX IPO is getting delayed.

5. 🤔 Is Amazon a great stock to buy right now?

🍪 Munchy Memes

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