大热板块中的二三线股票，表现往往好过冷门板块中的一线股票。

$IONQ $RGTI 于去年九月带领量子板块率先启动。随后该板块中存在感较低的股票也开始跟随大幅上涨，比如 $QUBT $LAES $QMCO

$MRVL $INTC 于今年三月底市场大跌后带领半导体板块反弹。随后该板块中业绩一般的股票也开始跟随大幅上涨，比如 $ON $NVTS $WOLF

近期 $RKLB 用一份几乎完美的 Q1 财报，配合 SpaceX 上市预期点燃的情绪面，带领太空板块率先启动。

如果这个逻辑继续成立，太空板块接下来值得重点关注的可能就不只是 $RKLB，而是整个板块的扩散机会。比如尚未充分启动的 $FLY $ASTS $LUNR

Sector before setup.

最快到下周 SpaceX就会宣布IPO的具体日期和细节。

🥹 $RKLB $ASTS 的下一波机会

对 $TSLA 就不知道是福是祸了。

Wall St Engine: SPACEX IPO PROSPECTUS COULD DROP AS SOON AS NEXT WEEK

CNBC reports SpaceX is planning to publicly disclose its IPO prospectus as soon as next week.

The company confidentially filed in April.

The roadshow is expected to begin June 8.

SpaceX is targeting a historic offering

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here’s a full recap:

1. The $SPX S&P 500 and $QQQ Nasdaq closed at fresh all-time highs today, even with oil spiking and U.S.-Iran peace talks stalling. The market is basically saying AI earnings momentum is more important than geopolitical risk right now. The PHLX Semiconductor Index rose 2.6%, with semis now comprising 17% of the S&P 500.

2. The optical networking trade continues to gain momentum. $LITE Lumentum surged after being added to the Nasdaq 100, while peers like $COHR Coherent and $GLW Corning also benefited from the AI data center connectivity theme. This is becoming one of the clearest “picks and shovels” trades in AI infrastructure. $LITE Lumentum’s move matters because the market is realizing AI is not just about GPUs. It is also about optical transceivers, lasers, fiber, switches, power, cooling, copper, glass, and every bottleneck inside the data center stack. The AI trade is expanding from chips into the entire physical infrastructure layer.

3. $TSLA Tesla was in focus after the White House invited Elon Musk, alongside more than a dozen top U.S. executives, to join President Trump’s trip to China this week. The delegation includes Apple’s Tim Cook, and BlackRock’s Larry Fink with other executives from Goldman Sachs, Cisco, Mastercard, Citi, Meta, Micron, and more. The trip is expected to focus on U.S.-China trade and investment, potential Boeing aircraft purchases, agriculture, energy, and possibly extending the rare earths truce, making Musk’s inclusion important given Tesla’s exposure to China manufacturing, demand, and supply chains. Jensen Huang $NVDA and Lisa Su $AMD were not invited as per Reuters.

4. Oil jumped again as the U.S.-Iran situation remained unresolved, with Brent crude moving above $104 and the Strait of Hormuz risk still hanging over the market. This is the main bear case investors are watching: if oil keeps rising, inflation expectations can come back and pressure the Fed. CPI will be reported tomorrow with expectations of a 3.7% print, the highest in 2.5 years.

5. Per Jeffries: "47% of semis/hardware stocks are screening overbought on 14-day RSI (high was 70% in Dec '23, 66% on April 24) as of Friday's close. The SOX is now 60% above its 200-day moving average, a level not seen since March 2000 and July 1995."

6. Earnings season continues to come in strong. Reuters reported that 440 S&P 500 companies $SPX have reported, with 83% beating estimates and Q1 earnings growth now projected at 28.6% year-over-year. That is why the market keeps absorbing bad macro headlines.

7. $CBRS Cerebras increased its planned IPO price range as investor demand for AI chip exposure remains extremely strong. The company is now looking to sell 30 million shares at $150 to $160 each, potentially raising up to $4.8 billion. The AI IPO window is officially open again.

8. $CRCL Circle reported a 20% increase in quarterly revenue and reserve income to $694 million, helped by rising demand for USDC during a volatile period. USDC circulation grew 28% year-over-year to $77 billion, showing that stablecoins are becoming a bigger part of the financial infrastructure story.

9. The most traded options today were $TSLA with 5.5M contracts, $NVDA with 4.8M, $MU with 1.1M, $INTC with 1.0M, $AAPL with 1.0M, $NOK with 886K, $META with 637K, $AMZN with 621K, $MSFT with 591K, and $AMD with 514K.

10. $HIMS Hims & Hers reported Q1 revenue of $608M, up 4% YoY, with subscribers growing 9% YoY to nearly 2.6M. The company raised full-year 2026 revenue guidance to $2.8B-$3.0B, but profitability moved lower as gross margin fell to 65% from 73%, net loss was $92M, and adjusted EBITDA declined to $44M from $91M last year. Management said 2026 is a “defining year” as the company expands branded GLP-1 offerings, international markets, diagnostics, and technology infrastructure.

11. $ASTS AST SpaceMobile reported Q1 revenue of $14.7M and said it remains on track for full-year 2026 revenue guidance of $150M-$200M. The bigger story is deployment: BlueBird 8, 9, and 10 are expected to launch in mid-June, BlueBird 11 through 33 are already in advanced production, and the company is targeting roughly 45 satellites in orbit during 2026. ASTS also received FCC authorization for commercial SpaceMobile service in the U.S., hit 98.9 Mbps peak data speeds from an in-orbit satellite to an unmodified smartphone, and ended the quarter with about $3.5B in cash

12. China is also in focus ahead of a Trump-Xi summit, with Chinese stocks $BABA $KWEB $JD hitting an 11-year high and the yuan reaching a three-year peak. Investors are watching whether the U.S. and China could coordinate around trade, Iran, and global supply chains.

I used to do these recaps a year ago...have gotten a bit busy but looking to bring them back...would people like them at the end of the day? I use AI to help summarize the events but the real time (around 30-40 min daily) comes in curating the best headlines and including the relevant details. Happy to start it again if people want it back!

WALL STREET IS THE GREATEST SHOW ON EARTH.

TOP 20 STOCKS TRADED IN THE OPTIONS MARKET TODAY:

1. Tesla $TSLA – 3.43M contracts
2. Nvidia $NVDA – 2.46M contracts
3. Apple $AAPL – 1.41M contracts
4. Netflix $NFLX – 875K contracts
5. Microsoft $MSFT – 786K contracts
6. Amazon $AMZN – 668K contracts
7. Meta $META – 659K contracts
8. MicroStrategy $MSTR – 574K contracts
9. Ondas $ONDS – 494K contracts
10. AMD $AMD – 463K contracts
11. Beyond Meat $BYND – 442K contracts
12. Intel $INTC – 435K contracts
13. Micron $MU – 432K contracts
14. Hims & Hers $HIMS – 420K contracts
15. Palantir $PLTR – 344K contracts
16. AST SpaceMobile $ASTS – 334K contracts
17. BlackBerry $BB – 295K contracts
18. SoFi $SOFI – 290K contracts
19. Marvell $MRVL – 288K contracts
20. Alphabet $GOOGL – 286K contracts

HOW I WILL PLAY THE NEXT MONTHS AND WHAT I EXPECT:

I want to touch on 5 important things:

1. First, I’m sad to see the lunch of $ASTS fail. I sold a while ago. “$Execution delays is a risks. Sold and took profit recently.”

Still saddens me to see.

2. I see a lot of new concerns on US/Iran. Here’s my take and how I will play it:

Overall I believe we have see the worst. I could be wrong. But usually when ceasefire and ‘talks’ have been somehow ongoing it’s very rare a full blown war will continue.

I expect some volatility short-term. I’ll be DCA’en through if it plays out.

Long-term I have NO concerns. US are on their way to a ‘goldilocks’ era. So many investments are being made INTO US.

I expect inflation to rise short-term. Fall afterwards towards the goldilock-era for US where AI infrastructure will play out and dominate.

Lastly. I see some concerns about ‘oh, but $SPY $SPX $QQQ are all back to ATH and topping.

Yes. But MAG7 is not topping. $NVDA $GOOG $AMZN are close to touching Octobers high. But recently. $MSFT $AAPL $TSLA are far from it.

Meaning the ‘top’ is not driven by small cap or MAG7.

But the middle-layer of $SPYx / SP500.

I’m not concerned. But expect more of a rotation to continue into risk-on - when US/Iran clears.

3. A couple of hours ago I released a FREE NEW extensive deep dive on $OUST. You should go read it.

4. I’m considering creating a FREE group-chat here on X. A community.

What I expect of the group:

This is not a buy/sell signal group.

But a group to connect with like-minded. Analyzing the market, sharing ideas, research, insights, learnings and Go deep on finding gems together.

There’s limited spots.

If you want to join. Comment: “YES.”

And just to be clear: I dont have a course or offer no paid services.

5. Based on 2) - I’ll sit tight in my long-term high conviction plays with ease and peace. Add on dips. Pure DCA.

Meanwhile I’ll soon open up my short-term account again and begin some short-term swing trades in the timeframe of less than

Black Panther Capital: → PORTFOLIO UPDATE & REFLECTIONS:

Here’s what have changed:

I used the recent volatility to take some profit and consolidate around my highest conviction names.

LONG-TERM PORTFOLIO:
$IREN – 24.2%
$CIFR – 22.2%
$TE – 16.2%
$ONDS – 14.1%
$RKLB – 14.1%
$OSS – 9.1%

SHORT-TERM

The space economy is getting its own Wall Street sector map now.

Morgan Stanley just published a 60-stock list organized around the space economy; propulsion, alloys, communications, sensors, launch.

This is how institutional money flows.

First the research. Then the allocation.
Then the retail crowd asks why these stocks moved.

The list includes the obvious names; $MP $RKLB $LITE $COHR $FLY $ASTS $PL and the less obvious ones; $RDM $TSAR $AME $APH.

The supply chain that makes both of them work; launch and satellite, are where the next upside tends to live.

-BP

This is not financial advice. Please do your own research.