Full recap
Good morning. Let's get you caught up on a world where satellite internet is worth more than most countries, prediction markets are getting a Bloomberg Terminal, and the US Men's National Team is already playing injury Jenga four days before kickoff. ARK Invest, home of Cathie Wood and audacious spreadsheets, says Starlink alone justifies a $2 trillion valuation for SpaceX at IPO. That's not a typo. Starlink. The satellite internet service your uncle uses at his hunting cabin. To be fair, connecting the unconnected is genuinely world-altering. To be snarky, ARK has been known to value things with the confidence of someone who has never been wrong and the track record of someone who has. Kalshi is building what sources call a 'Bloomberg Terminal for prediction markets.' So now degenerate traders can have a professional-grade dashboard while betting on whether the Fed blinks. This is either the most sophisticated information tool ever built for retail speculators, or the most expensive way to lose money with good latency. Probably both. On the stock front, Broadcom, Micron, Petco, and Coinbase are all making premarket moves. Petco in that list is doing the most work. Nothing says 'macro uncertainty' like watching a pet supply chain trade in the same breath as a semiconductor giant and a crypto exchange. In actual sports, the Spurs and Knicks are heading into NBA Finals Game 3. DraftKings would very much like you to place a $5 bet in exchange for $200 in bonus bets, which is an absolutely normal and sustainable business model and definitely not a customer acquisition cost that would make a VC blush. The USMNT World Cup situation is a controlled anxiety spiral. Chris Richards is back in full training after an ankle injury. Tyler Adams, however, did not practice. Tyler Adams is the engine of this midfield. This is like finding out your car's transmission is 'being monitored closely' three days before a road trip. And on a genuinely somber note: Kentucky defensive lineman Nic Smith passed away at 20 years old. He was a redshirt freshman entering his second season. No snark here. That's a young man and a real loss for the people who knew him. The SEC and ACC are teeing up a Women's Basketball Challenge that apparently features a Sweet 16 rematch involving Blakes and Hidalgo. If you are not already watching women's college basketball with the same intensity you bring to your prediction market dashboard, you are leaving entertainment on the table.
Highlights
- ARK says Starlink alone is worth $2 trillion at IPO - which is either visionary or the most expensive satellite dish pitch in history
- Kalshi's 'Bloomberg Terminal for prediction markets' is either the future of information trading or a very elegant way to feel professional while gambling on Fed policy
- Tyler Adams skipped practice days before the World Cup opener, which is the sports equivalent of your lead developer going quiet right before a product launch
- Petco is moving premarket alongside Micron and Coinbase - the randomness of the market continues to be its most honest feature
Original source links
- CNBC: Stocks making the biggest moves after hours: Lululemon Athletica, ServiceTitan, Argan and more
- CNBC: Ark Invest owns SpaceX in its venture ETF. It says Starlink alone supports $2 trillion value at IPO
- CNBC: Kalshi is building a prediction markets 'Bloomberg Terminal' for high-end traders, source says
- CBS Sports: Use DraftKings promo code for $200 in bonus bets by targeting Spurs-Knicks NBA Finals Game 3, MLB on Monday
- CBS Sports: USMNT's Chris Richards returns to full training days before World Cup opener; Tyler Adams doesn't practice
- CBS Sports: Kentucky DL Nic Smith dies at 20: Redshirt freshman was entering second season with program