By Monday Morning, This Stock Won’t Be Cheap

Be honest—

You’re not getting early shares in the SpaceX IPO.

That opportunity goes to the insiders. The giant investment banks. The offshore hedge funds. By the time it opens to the public on the apps, the easy gains are already gone.

But there is a way to position yourself ahead of the June 1st deadline.

Because one specific company sits at the dead center of everything Musk is building right now.

It is a mission-critical supplier tied directly to the infrastructure behind the Colossus supercomputer and the broader IPO story.

While the “retail crowd” is begging for an IPO allocation they’ll never get, the smart money is quietly moving into this supplier while it still trades at a significant discount to its true strategic value.

Almost nobody in the mainstream press is talking about this ticker yet. But when the S-1 hits the SEC, that changes forever.

Get the ticker before the IPO headlines hit >>

☕️ GM Munchers! The official inflation number is 4.2%. That is what the government says. What the government does not say is that over the last five years your coffee is up 108%, your ground beef is up 64%, your auto insurance is up 54%, and your electricity is up 40%. The math is not mathing and your wallet figured that out long before the CPI report did.

On today’s menu:

• 📊 Inflation Just Hit A 3-Year High

• ⚽️ The World Cup Kicks Off Today

• ✅ Robinhood, DraftKings & Casey’s

• 🍳 The Stock Market Just Found Its Favorite Restaurant

• 🏘️ Housing Markets = Most Unaffordable In History

Yesterday’s numbers:

BREAKING NEWS

📊 Inflation Just Hit A 3-Year High. The Market Did Not Take It Well.

Everybody was hoping for a calm day yesterday but the inflation report had other plans and decided that calm isn’t really on the menu right now.

The May Consumer Price Index came in at 4.2% year over year, the highest inflation reading in three years. The monthly increase was 0.5%, driven almost entirely by a 3.9% surge in energy prices. The war with Iran and the closed Strait of Hormuz keep hurting gas and fuel costs.

What’s crazy is that futures traders now see zero chance of a rate cut in 2026. Earlier this year the market thought at least one cut was a guarantee. That expectation has completely flipped and prediction markets are now pricing in a 52% chance of a hike this year.

As a result, the market reacted exactly how you would expect. Stocks fell. Yields rose. Risk assets sold off. It was not a pretty session.

Here is what is actually driving prices up right now:

• Energy prices are up 23.5% over the past twelve months. That is almost entirely because of the Iran conflict and the disruption to global oil supply running through the Strait of Hormuz.

• Food prices rose 0.2% in May after a 0.5% jump in April. Grocery prices climbed again and restaurant prices went up too. Every single trip to the supermarket is costing more than the one before it.

• Core inflation, which strips out food and energy, came in at just 2.9% year over year with core goods actually falling 0.1%. The good news is that everything except energy is relatively under control. The bad news is that energy is in everything.

President Trump responded to the report by saying he loves the inflation. That is a direct quote. He loves the inflation. With respect, that is a lovely sentiment from a man whose grocery bill is handled by the White House kitchen staff. Donald, I’ve been eating ramen for three weeks. We’re not loving the inflation, sir.

The Munch Take: 4.2% inflation. A three-year high. Driven by a war that is keeping oil expensive and a Fed that now has no room to cut rates. The timing could not be worse with Kevin Warsh walking into his first Fed meeting next week with this number sitting on the table in front of him. My wife came home from the grocery store yesterday and put the bags down with the specific energy of someone who has something to say. She did not say anything. She just held up the receipt. I did not ask questions. The receipt lines up perfectly with the CPI report.

⚽️ The World Cup Kicks Off Today. Here Is Who Is Really Winning.

For the next month, billions of people will lose sleep, argue with referees on social media, and attempt to explain the offside rule to confused Americans. FIFA, meanwhile, will be watching a completely different scoreboard.

The 2026 World Cup will be the biggest in history. 48 teams. 104 matches. 16 host cities spread across the United States, Canada, and Mexico. FIFA projects the tournament will generate $13 billion in revenue, a 70% jump from the Qatar World Cup in 2022. FIFA is not publicly traded so regular investors cannot buy a piece of it directly. But plenty of companies that will cash in on the tournament are.

Here is where the real money flows for traders and investors to watch:

• $DKNG DraftKings and $FLUT Flutter Entertainment, which owns FanDuel, are expected to benefit from an estimated $50 billion in global World Cup betting volume, up from $35 billion in 2022. Analysts project a 2% to 5% lift to operator earnings.

• $BUD Anheuser-Busch InBev could see up to a 25 basis point boost to volume growth from the tournament, with extra upside if Brazil wins its first World Cup since 2002 thanks to its controlling stake in Brazilian brewer Ambev.

• $CMCSA Comcast holds Spanish-language broadcasting rights for the tournament, giving it access to one of the most engaged audiences in North American sports. Analysts at Benchmark are bullish on the World Cup tailwind for the company.

The tournament is projected to add $40.9 billion to the North American economy and support the equivalent of 185,000 full-time jobs across the United States alone. Hotels, airlines, ride-sharing companies, and restaurants in host cities are all in line for a meaningful bump. $ABNB Airbnb, $UBER Uber, and $LYFT Lyft are also expected to benefit as millions of fans travel between host cities throughout the tournament.

The Munch Take: The World Cup is 104 games of football spread across a month and the entire North American economy is gearing up to profit from every single one of them. FIFA described it as 104 Super Bowls in a month. That is either the greatest sports tournament ever conceived or the most ambitious logistical nightmare in history. Probably both.

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MARKET OVERVIEW

🍿 Tasty Movers & Shakers

🐦 $HOOD Robinhood gained 3% after platform assets climbed and the company got approved to underwrite IPOs. That means Robinhood can now help companies go public instead of just letting its users buy the stock after. With SpaceX and OpenAI both going public soon, that approval could not have come at a better time.

⛽️ $CASY Casey's General Stores jumped over 20% after beating earnings expectations on the back of strong fuel margins and better than expected pizza sales. A gas station convenience store chain beating Wall Street estimates because of pizza is the most American sentence written in this newsletter all week.

🎲 $DKNG DraftKings rose over 4% after management told investors that prediction markets are not hurting its core betting business. They also pointed to the upcoming World Cup as a major growth opportunity. Billions of people watching soccer and placing bets is apparently a good business model.

🚚 $FDXF FedEx Freight and $ODFL Old Dominion Freight Line dropped nearly 7% and 5% respectively after Amazon announced it’s opening its freight shipping services to outside customers. Amazon built its own delivery network to serve itself. Now it’s coming for everyone else's lunch. The trucking industry just got a very unwelcome new competitor.

💻 $SMCI Super Micro Computer cratered nearly 28% after announcing plans to raise $7 billion through new share sales. When a company sells that many new shares it dilutes the value of every share already out there. Investors did the math quickly and did not like the answer.

STOCK OF THE DAY

🍳 Cracker Barrel Just Jumped 29%. The Stock Market Found Its Favorite Restaurant.

Nobody had Cracker Barrel on their 2026 bingo card. Yet here we are.

$CBRL Cracker Barrel reported earnings of $0.29 per share against Wall Street expectations of a loss of $0.42. Revenue came in at $797 million against a forecast of $777 million. Management then raised full-year guidance and bumped its profit outlook from $85 million to between $120 and $125 million. The stock jumped nearly 30% in a single session. For a company that sells chicken and dumplings and decorative cast iron signs, that is a remarkable day.

I’ve been trying to bring my wife to Cracker Barrel for years because it’s what I would consider a quality dining experience. Turns out the stock market is finally starting to agree with my taste in restaurants.\

📈 The Bull Case:

• Cracker Barrel pays a quarterly dividend of $0.25 per share, which works out to a 2.25% annual yield at current prices. In a market where everything feels uncertain and volatile, getting paid just to hold a stock is not something to dismiss. The biscuits are free when you visit. The dividend is free when you own the shares. I see what they’re doing.

• Off-premise sales, meaning takeout and delivery, grew to nearly 20% of total restaurant revenue, up from last year. Cracker Barrel is quietly building a business beyond its dining room tables and rocking chairs.

• The company also received a $47.4 million cash boost from a legal settlement, which gave the balance sheet a meaningful one-time lift heading into the second half of the year.

📉 The Bear Case:

• Restaurant traffic fell 6.7% year over year. The higher revenue came mostly from charging more per visit rather than getting more people through the door. That could be a long-term warning sign.

• Same-store restaurant sales still declined 2.6% and retail same-store sales fell 1.8%. The business is doing better than feared but it’s not actually growing (yet).

• Cracker Barrel shares have made moves bigger than 5% on 38 separate occasions in the past year alone. This stock is extremely volatile. A 29% jump can become a 20% drop just as fast.

The Munch Take: Cracker Barrel is my idea of a romantic dinner. Checkered tablecloths, sweet tea, biscuits that arrive before you even sit down properly, and a gift shop where my wife always finds something she didn’t know she needed. I’ve been trying to convince her it’s a premium dining experience for years. She’ll probably still disagree but this stock is starting to give shareholders a premium experience, up 65% so far this year. The only thing better than that are their biscuits.

TRADING SUCCESS

🤑 Thursday Motivation

🚀 Pre-Market Fuel

1. 👀 Here's the Best Day to Buy Nvidia (Ad)

2. 📉 The Japanese Yen is really crashing.

3. 🏘️ The housing market has reached the most unaffordable level in history.

4. 😬 Are more Iran strikes coming?

🍪 Munchy Memes

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