TOGETHER WITH
Hey there weekday warrior,
Here’s what’s on tap today… Micron just joined the cuatro comas club, Ferrari found out no one wants a $500k Tesla, and Starlink wants to know if you’d like some internet access with your chemtrails.
Enjoy the next 3 minutes and 59 seconds of blue-chip news and commentary.
Keep on snapping necks and cashing checks,
PS… thanks in advance for doing your part in helping keep TWC like the Fed (free and independent) by clicking on and checking out our advertising partners daily.
Craving chips
‘merica’s got a fever, and the only prescription is more chips…
Micron $MU ( ▲ 19.29% ) stock only goes up.
Temu Samsung just hit a $1T market value for the first time after shares mooned (think: closed up over 19% on the day).
If you’re thinking, “but didn’t it just hit a $700B market cap a few weeks back?”… you’d be right. Its growth has been of the parabolic variety.
“Why stonk go up?” - you, probably, barely keeping up with this AI mania
Well, for starters, the AI bubble surge has been kind to memory chipmakers (read: there’s a global memory shortage crisis).
As for the 19% spike on Tuesday, that was all thanks to some analysts over at UBS who tripled their price target for MU.
But Micron wasn’t the only one cashing in…
Qualcomm $QCOM ( ▲ 4.48% ) locked in a deal with ByteDance (so, TikTok aka the People’s Republic of China) to supply chips for new AI data centers.
That’s a big deal for the Q, who has been trying to transition from smartphone processors to cash in on the AI bubble rage.
QCOM shares popped to reach a new 52-week high.
And because an AI picture is worth 1,000 AI slop words… AI stonk trading in 2026 be like…
A Home Delivered to You. Unpacked in One Hour.
Imagine a future where we could mass produce homes like cars — one every minute. That’s the vision of BOXABL Inc. (“BOXABL”), a company with the goal of leading a homebuilding revolution with high quality, cost effective, factory-made, foldable houses that ship anywhere and unpack in one hour.
BOXABL announced plans for a potential SPAC merger with FG Merger II Corp. (“FGMC”) (NASDAQ: FGMC). After crowdfunding $230M from over 60,000 investors since 2020.
Currently trading on Nasdaq, $FGMC will be the surviving entity following the proposed merger's closing. The combined company will then be renamed BOXABL Inc., with the anticipated ticker $BXBL.
BOXABL expects Nasdaq trading on or about June 12th. Investors holding $FGMC shares will automatically convert to $BXBL upon closing.
Check out FGMC on Yahoo Finance.
Ad disclosures below*
+ The people have spoken…
EVs are dead. Long live EVs. Ferrari $RACE ( ▼ 5.26% ) (god-tier ticker, btw) took a massive L yesterday after revealing its new $640k electric vehicle, which, good thing because I was *this* close to buying one…
The “Luce,” designed by Jony Ive’s team (spoiler: the dude who made all of Apple’s iconic sh*t), got absolutely rekt online for looking like a $30k Nissan Leaf or a melted Alfa Romeo SZ. Oof. Fans are literally worried the dog-sh*t EV dilutes the value of the entire brand…
Meanwhile, CEO Benedetto Vigna said the launch was a “very, very important day” and the opening of “a new chapter” for Ferrari. Shares fell 4% on the day… and Enzo Ferrari is rolling in what I can only imagine is one baller grave.
On Saturday, it was looking like we might finally be wrapping up this Iran situation. Per Donny Diplomacy, a peace deal to reopen the Strait was “largely negotiated.” And you’ll never guess what happened next…
Yup, by Tuesday, the US was conducting strikes on missile launch sites and Iranian boats in southern Iran to “protect our troops from threats posed by Iranian forces.”
Anyway, oil prices still dropped bigly yesterday as Marco Rubio made it sound like this whole thing really is a wrap.
+ ROI IOP: Internet. On. Planes.
Starlink locked in a deal with American Airlines $AAL ( ▲ 7.18% ) yesterday to outfit over 500 of its planes with Elon’s satellite internet for in-flight Wi-Fi. Suck it, Amazon.
The Starlink upgrade will only be rolled out for American’s Airbus $EADSY ( ▲ 2.09% ) narrow-body (unlike your mom) planes.
Which is a real bummer if you’re flying on a Boeing $BA ( ▼ 0.06% ) American flight and need to live stream the final moments before impact, ask ChatGPT “how to fix a door plug mid-flight.” People don’t forget, Boeing…
Friendly reminder of the scorecard…
Delta $DAL ( ▲ 4.27% ) went with Amazon’s Leo service for its in-flight Wi-Fi
United $UAL ( ▲ 5.96% ), Southwest $LUV ( ▲ 3.48% ), and Alaska $ALK ( ▲ 5.93% ) are all in camp Elon
And to think Spirit was so close to finally offering dial-up (for first class…)
> (Tuesday) EU plans to fine Google high triple-digit million euro sum as part of antitrust investigation // This sounds important, but we don’t speak in Euros around here…
> (Tuesday) Ex-JPMorgan banker Chirayu Rana hit with major setback in outrageous sex slave lawsuit hours before court appearance // …
> (Monday) Pope Leo urges AI regulation and warns that some weapons are now beyond human control // Even the Holy Spirit out there worried about getting replaced by AI.
> (Sunday) Uber weighing higher bid for Germany’s Delivery Hero // More Euro math…
> (Sunday) ‘The Mandalorian and Grogu’ is Disney’s lowest-ever Star Wars film opening // You mean Pedro Pascal making out with Colbert to sell movie tix didn’t work?
> (Last Friday) Consumer sentiment hits fresh record low in May as Iran war fuels inflation worries // ‘mericans be like…
> (Last Friday) Kevin Warsh sworn in as Fed chair as Trump seeks interest rate cuts // *Jamie Foxx ‘Jarhead’ voice* “Welcome to the suck.”
> In case you were doing something worthwhile on Sunday instead of watching this…
The $2 Trillion Asset Class You're Missing
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Why? Private credit offers what traditional portfolios increasingly lack: consistent yield potential (Percent's marketplace delivered 14.9% average net returns in 2024), lower correlation to public markets, and shorter investment horizons averaging just 9 months.
With Percent, accredited investors can now access the same institutional-quality deals that were once exclusive to the ultra-wealthy. Start with as little as $500 and get up to $500 on your first investment. Invest like the smart money.
On Friday, I asked, “If you could only eat one chip brand for the rest of your life, which one is it?”
23.8% of you said, “Doritos.” And it was hella contentious.
Here’s what some of you guys had to say (and my response in italics)…
Lay’s: “One type of chip = OG Doritos. But you asked which brand, so assume I get access to all flavors. Lays has to be the pick (Doritos flavor line up blows).” I can tell you put some thought into this. Kudos.
Doritos: “Especially if we can bring back 3D Doritos!” Ultimate fantasy for all of us.
Other (write-in): “Funyuns. Great snack after smoking a bowl and goes well on a sandwich!” Great suggestion.
Tostitos: “I can flavor up the Tostitos and turn them into any kind of nachos I want... bbq chicken with pineapple, straight cheese, ground beef and jalapenos, Mediterranean, spicy with guac you name it. I feel like I would get tired of nacho cheese doritos after awhile and want something else.” Another appreciated deep thinker.
Other (write-in): “Cape Cod Chips are the literal best chip around. Between the crunch and wide variety of flavors, there is no competition.” Many felt this way.
Here’s today’s question(s)…
One ground rule: you can’t just turn around and sell it
If someone offered you a free exotic sports/super car, what are you going with?
+ US stocks jumped Friday (S&P 500: +0.4%) on renewed Iran peace hope and were up again on Tuesday with the S&P hitting a new ATH (S&P 500: +0.6%). TYFYS, Micron.
🔴 (Tuesday) AutoZone stock on pace for worst trading day since March 2020, despite retailer beating Wall Street estimates // Get in the zone.
🔴 (Friday) GameStop Requests Share-Count Increase; Stock Slips // Look how they massacred my boy.
+ Oil prices gained slightly Friday, then plunged to a 2.5 week low on Tuesday as Marco Rubio hinted at the end of our long national nightmare.
+ The “smart” money (prediction markets) thinks that there’s a 46% chance Iran agrees to surrender its enriched uranium stockpile by the end of the year. (Polymarket)
⏩ Today we’re keeping an eye on…
+ PDD Holdings, Abercrombie & Fitch, Dick's Sporting Goods, Bank of Nova Scotia, Bank of Montreal, and Bath & Body Works report before the bell
+ Salesforce, Snowflake, Marvell, Synopsys, HP, Everpure, American Superconductor, Heico, Nutanix, Gorilla Technology, Braze, and Agilent report after hours
+ Peloton Interactive and Universal Technical Institute will join the S&P SmallCap 600 index
+ Meta holds its annual meeting
⏩⏩ On Thursday…
+ Xpeng, Best Buy, TD Bank, Dollar Tree, Royal Bank of Canada, Li Auto, Kohl's, Futu Holdings, Photronics, and Burlington Stores drop earnings before the open
+ Costco, Dell, Uipath, MongoDB, Okta, SentinelOne, Autodesk, Elastic, Asana, Ambarella, The Gap, NetApp, and American Eagle report after hours
+ The May core PCE price index report will drop
Oh, and one more thing…
What did you think about today's newsletter?
Sent from my Amazon Fire Phone. Please excuse any mistakes and typos.
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Ad Disclosures
1 BOXABL and FGMC have extended their merger deadline to June 30, 2026, pending regulatory and shareholder approvals, see SEC Exhibit 99 for further details
2 Investing in a SPAC can introduce unique risks, including but not limited to regulatory and compliance risks, liquidity risks, structure and complexity
Review the latest filings here