Investor's Edge with Gary Kaltbaum - SpaceX [06.12.2026]

Episode Date: June 12, 2026

https://garykaltbaum.com/The opinions you hear on BizTalkRadio, BizTV, or BizTalkPodcasts are those of the hosts, callers, and guests and do not necessarily reflect those of BizTalkRadio, BizTV, or BizTalkPodcasts, its management or advertisers. The information on BizTalkRadio does not constitute a recommendation, offer, or solicitation to buy or sell any product or securities. Please consult a professional before investing. 

Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Coltbaum, your host day. Thanks of being with us today. Glad you here, ladies and gentlemen, happy that you are listening 12th of June, Friday, 2006. Hope you having a good day.

Lots to cover. and maybe today you can call me Gary Coldwater instead of Gary Kaltbaum By the way Kaltbaum in German means cold tree

anyhow By the way this is serious talk on everything that affects you will do the markets, the economy your job, your industry SpaceX tariffs,

war and a lot of bull crap. And if you do not get this radio show in your city, we'll post it at garyk.com. We'll post on our X feed. If you don't follow us on X, you should. Just put our name in. If you like to email me, just be nice.

Just be respectful. That's all. I had a guy on Twitter today said I was a Nazi lover. Because I wouldn't say that Trump and Elon Musk are Nazis. That's what I've got to deal with every now and then. okay we have this little line on this radio show we don't tell you what to buy what to sell what to short or what to cover but what we what we will do is tell you what we think and sometimes what we will do is give you numbers hard facts

my favorite one we've ever done is when Rivian came public and they had almost the market cap of GM and Ford put together even though they had no sales but delivered 40 cars to employees while GM and Ford had a sales of 200 and something billion And we just said to you, flippantly, but meaningfully, oh, Rivian's a $10 stock. And of course, it went there. Where's Rivian stock now? I know they do a lot of business now.

They are selling a lot of cars. It's $16. But I think when I read somewhere, every time they sell the car, they lose thousands of dollars. I read that somewhere. So SpaceX. So let me read something to you. If you don't mind. SpaceX at the initial public offering today had a $1.77 trillion market cap that shares times price.

You got that? 18.7 billion in revenues. Walmart has a little over half of SpaceX valuation at $959 billion. But they have $713 billion in revenues, 40 times the revenues of SpaceX, but half the valuation. Let me applaud Wall Street for a change. Initial indications today on the $135 IPO, initial public offering, was SpaceX was going to open 175. And then about 20 minutes later, I saw 166. And then an hour later I saw 158.

And then I saw 150. And that's where basically they opened SpaceX out with a $15 premium to the price. Subsequently, it went as high as 176 and closed at 161, I believe. By the way, the symbol SPCX. I have read that 4,400 people became millionaires that worked for SpaceX because of this. I had something else that I had. Let me see if I can find that I had to read this to you. If I can find it.

Bear with me. Come on. Can't find it. Darn it. Oh, there it is. You ready? Juan Hernandez. Immigrated from Mexico and took a $28 an hour contractor welding job in 2015 with SpaceX.

The company gave him equity of $10,000 and let him buy more shares through payroll deductions. His stake is now worth $880,000. Trevor Heist parents want him to take a stable job at GE. He picks SpaceX instead, stayed 12 years, and accumulated over 100,000 shares. 13.5 million. Just let you know. Fabulous. This is what we talk about all the time here, how the CEO of Disney World now, which is the theme parks, which is, the hotels, water parks, started as a captain of the jungle cruise boat. We love that. We love that. We love upward mobility.

We love success stories. This is marvelous. But it's all so unfortunate when all said and done. This is one man's opinion. We're not telling you what to do. if this company was selling pipes. It closed today at 161 and change. I think it'd be about 15 bucks.

What? Yeah. I will go on a search right now. What is the normal price to sales for S&P stocks? two two and a half time sales. SpaceX came public at over a hundred times sales. Now granted, they are going to grow their sales. They are.

Not worried about that. I'm worried about the here and now. Why? What do we tell you about valuations? It's a simple theme. valuations. The market will go to where valuations are normalized eventually, no matter what they do. And if we go into some sort of bearish phase, oh, it's not going to $10.

It's not they sell pipes. But I could foresee this stock down at $75. That's not a prediction. It's not a guess. I'm just going by valuation. but they opened it well I have absolutely no clue what it does next week

I don't know whether I will tell you this they will defend the hell out of the 150 that's the open they will defend the hell out of the 150 I can promise you that like grim death they will defend

that number so we're just letting you know the valuation is off the freaking charts but there's something else that is not being considered when looking at valuation. Don't you think? What else should be considered when you look at valuation for SpaceX? What else should be considered?

Well, we know about Starlink and that's going to grow. What just happened to a blue origin rocket? Anybody know? It blew up. Now, we're not the voice of grim death or anything, but what if one of their rockets? What if? And if it does occur,

let's hope it's just like blue origin that nobody's on the rocket. Has anybody accounted for that risk? No. So just letting you know, for all I know, it goes to 200 bucks next week. Seriously.

Just remember, valuation prices based on what, people are willing to pay in size, just like Bitcoin and Ethereum and what they did throughout the years. Just like Dogecoin that came out as a comedy act and went from zero. I don't know what the price was at the high. But as we always say, eventually valuations will matter. Up next. More on that.

Oh, and then the war. This is the one only Investors Edge. Hi, I'm Gary Kalbaum, hosted a nationally syndicated radio show Investors Edge. We're not just handsome radio people. We manage investors' money for a living, specializing in fee-based discretionary money management. No big commissions, just a fee on the assets that's managed. We also provide a full range of personalized services,

including retirement planning, fixed income, and educational needs, all to assist you in achieving your financial goals. Understanding not all individuals have the same needs, will carefully evaluate your personal goals to determine a proper investment strategy. If your current approach to investing is not getting you to where you would like to be, call us to make an appointment for a complementary portfolio review. The number to call is 888-4-2-5-59. That's 885-59.

That's 888-4-2-2-5-59. Investment Advisory Services offered through Call Bomb Capital, Capital, management. It's time to switch on the integrator units and get the brain cells working. You're listening to. Hey, this promises to be fun. Investors Edge. The last bastion of quality programming with Gary Coltbaum. It doesn't get better than this. And welcome once again to Investors Edge. You know, do you know on satellite radio, they have all these different types of channels. They have won. It's channel 156 and it's the pro wrestling channel. It's 24-7 of professional wrestling shows. And as you know, I'm a fanatic. As you know, I've been to hundreds and hundreds of shows starting in 74, 75, going to Miami Beach Convention Center each Wednesday to see Dusty Roads beat the bad guy.

I should do a show on that network. I listen to the others and they're terrific. They got wrestlers on there and some people that have been on the shows. I should do a show on professional wrestling. Hmm, that would be cool. I was listening in. Boy, there's some smart people on there. Anyway, just letting you know.

Back on SpaceX. Let me repeat a few things just so you understand where I'm coming from. I have no clue what happens to the stock in the short run. Maybe it goes to 200 from here. Maybe it goes to 300. What? 300? Gary, you're saying value...

Hey, life is crazy in the markets. It will tend to do crazy things. We know that. We've seen it for many years at different times. People catch on to things because it does this, and the other thing so we're just letting you know we don't know in the short run it did close at 161 after hitting 176 by the way it's 163 in the aftermarket on a Friday so it's up a little in the aftermarket yippee a yeah yeah terrific we're

just letting you know the valuation is nuts that's all the valuation is nuts and the only way you get a valuation like that is because everything is nuts. I guess now with it at 163, $135, $28, $28 more, it's another 20%. It's near a $2 trillion market cap with $18 billion in revenues and losses. And by the way, they're going to have losses for a while because of the spend. No doubt. No doubt. It's sheer insanity. And we say that and at the same time say, maybe it goes to $200 or $300, maybe it goes to a $5 trillion market cap. I don't know. Just keep everything we're telling you in your little file manager.

Do that. Why would I say to do that? Because how many times through the years have we said this and it did come to fruition? Every time. There's a simple rule. It's a simple rule. Eventually, valuations will matter. That's all.

I do want to let you know also, and again, this is a little bit of the downside of the market. For the last three or four weeks, I have been watching pundits shouting at you, touting you by the hell out of all the rocket and space stocks because the valuation of SpaceX is going to make them their valuation go boom boom boom boom boom boom well dxy z the destiny tech 100 is gone from 72 to 29 down another 25 percent today How about symbol ASTS has gone from 133 to 82 down 15% today? How about Rocket Labs, which, by the way, the Dufuses at the S&P put that into the S&P 500s today. I don't know exactly when it goes in.

That was down 11% today. That's gone from 151 to 102 in the last three weeks. How about symbol PL has gone from 51 and 3 quarters, to 31 in the last two weeks. How about the symbol NASA? There's a symbol NASA. It's space stuff. 4-260 to 32.

That's actually a good one. And by the way, I have to mention this one. Virgin Galactic came out as a SPAC. Remember that? It was a $10 SPAC, just so you know. they had to do a one for 20 reverse split because of how low the stock went and it's still $3.91.91 right now. A one for 20 reverse split that means the stock right now is 20 cents from 10 bucks. That was a space stock. By the way, it's never got off the ground, I guess. No pun

intended. So just let you know the downside of some things. And by the way, I hope SpaceX stock keeps going higher. Just like we've been bearish on Bitcoin and Ethereum and Crypto since November 4th, we don't want it going low. We'd rather go higher because we know so many people have it because I keep getting emails from people asking about it, which tells me they're still in it, which takes us to the market. So I cannot get into the market without talking about the war. Well, we are told there's a deal.

Our side has put out what the deal supposedly is. Iran has put out what the deal is supposedly is. And it is like the sharks and the jets from West Side Story. No agreement whatsoever. Yet people keep coming out and saying a deal is done, which is weirding me out. Our side is saying that they are going to give up nuclear. They say screw you. Our side is saying there's no way they're getting any money until they perform.

They're saying we're getting money or there is no deal. So I don't know what the hell is going on. But the market believed our side as it romped yesterday and romped again today with news. But by the way, we're hearing from Pakistan saying there's a deal. So who the hell knows? I don't know. Up next. But my opinion on what we're seeing.

And then we'll get right into the markets. This is the one only investors at. They're listening to. America is talking. Investors Edge. He's got to be pleased with that. The crowd is just on his feet here. He's a Cinderella boy.

With Gary Colbomb. It comes highly recommended. You're going to feel better if you talk to him. And welcome once again to Investors Edge. Okay. Let me say a few things. If Iran gets a crap load of money, I will rip the stuffings out of this president

because he was ripping Obama for years about Obama sending a billion and a half bucks in cash. It's being reported, I don't believe it, that the United Arab Emirates had agreed on part of this deal with our side knowing about it has agreed to release a total of $10 billion to Iran. Three billion has already been delivered. Other sources with knowledge put the time,

total funds at 20 billion. If this is, I don't believe it. But if we find out it's true, that means the art of the deal from this president is the art of the steel. Just letting you know. And I'm rooting for them and I stand by him. But there's been so many freaking inconsistencies over the last 10, 20, 30, 40, 50, 60, 70, 80, 90, 100. days that my head's spinning. I got vertigo.

But the market believed them. I was up big yesterday after dumping the day before. It had a pretty good day to day. That's the story. And then we're hearing this, which pisses me off even more. Supposedly, and we're going to find all this out. What's interesting enough,

our side have yet to put out exactly what the deal is. It's all been by somebody else saying what the deal is. You ready for this one? Supposedly, the president has agreed to let Iran retain its civilian nuclear program. What? That would be freaking insane because everybody knows that their civilian nuclear program is actually, duh, their weaponry.

nuclear program. I mean, what in blue hell is going on here? Are we just dealing with amateurs? I saw somebody today on TV saying, oh, he's the art of the deal president, the great negotiator, deal. He's the worst. All right, back to the markets.

Dow up 350, and of course you know what moved. Goldman Sachs and Caterpillar. We're up, let's see, 424, 275 of the 350 Dow points. As those two go, the Dow will have a huge, and either way. Why? They are, well, Goldman is, besides Caterpillar, which is just below it, Goldman is basically three times, two and a half, three times bigger than the next one after Caterpillar as importance and an influence.

In the Dow, I have to mention a few things. Apple acting like crap, since they are a little confab, down four bucks today. Amazon down another three acting like crap. But good day for banks. Goldman was up 27. J.P. Morgan, which has been a week one, was up seven bucks today. And nothing else was down.

note. Nike was down another buck to 45. When did they taking Nike out of the Dow? They really need to and they need to take Verizon out of the Dow. Because they don't even matter. They don't even register. S&P up 37. NASDAQ only up 79. It was only up 20 with a couple of minutes to go. What I'm weirded out on and I can't figure it out yet, the NASDAQ was up 79, but the NASDAQ 100 was up 189. That weird me out. Do you know why? Because the big mega caps, Amazon was down. Metal was down. Microsoft finally went into the green by a little. Netflix was down. And Apple was down. Also of note, though, good day for the banks. I said, good day for financials. Good day for steel and some of the metals and mining. The, with oil prices down three bucks. So the airlines a little bit better, cruise lines a little bit better, but nothing fantastic. The hotels are strong, stronger. I wouldn't call them strong, strong.

And just overall decent, except the advanced declines on the NASDAQ only 26 to 21, much better on the NYSE. But most importantly, the market acts well to a deal getting done with Iran. Just don't blink. The semiconductors had a good day today. Bounce pretty well early. Some of the AI stocks had a pretty good day. Gold bounced a little bit more with silver. The building construction stocks that were under pressure bounced also.

And there's your market. Ten year yield was up, though. I'm going to be watching that. We're almost four, five on the 10 year, and we're almost five on the 30. I wouldn't want to see both those go through those numbers, the four, five and the five. Considering I'm going to be buying a house soon, I'd like to see the 10-year yield come down more. Anything else sticking out today in a big way? No, just it's a good day.

Foreign market's fine. Not all, but good day. And the semiconductors led again, not all. but that's movie importante. I've yet to do my scans. I think I know I'm going to find. And we'll head into next week. Which, by the way, is a shortened week because Friday is June 10th.

New holiday. Newer holiday. What is it? A few years old. And you know what Juneteenth is, right? You do know, right? I bet you a lot of people don't know. It's June 19th, 1865.

blacks were enslaved they received word of the freedom that's story end of slavery and i got to tell you i always i think about that often holy crap huh you know when i was a kid as i told you i was down at senesta and a lady would not let me or my friend in. We were at a tennis tournament into a restaurant because he was black and I was Jewish. That was like 73, 74, I think. And we still have some of that today. It's amazing. It's absolutely amazing.

Quite the world. The good news is I'm pretty sure that's the minority. Well, I hope. Of course, it has bubbled up in some things. Let's hope things get better. So what a week. What a week. You ready for the week?

With all the wild swings, the Dow on the week, was up six-tenths of one percent. Just remember, we had a 950-point Dow Day. Welcome to my world. The S&P was up. 0.6%. The NASDAQ 0.7%. The NASDAQ

100? Huh. 2%. I got to look up why because I got to tell you I don't think the big names of the NASDAQ 100 perform too well. Huh. That's the week. And then of course SpaceX.

Next up we hear is Anthropic and Open AI. Two more Monk. Hey, up next, this, that, and the other thing, and so we head to the weekend. This is the one only Investor's Edge. You're listening to. What are we waiting for?

Well, what are you waiting for? One, two, ready, go. Action! Investors Edge with Gary Culper. So, you know, I'm a spur of the moment type guy. As I told you, I'm going for business next Thursday. I'm going to Europe. just for a week.

And just so you know, I take four laptops with me. At 3.30 p.m., the market opens and closes at 10, and I'm in front of them. But I must tell you, I still haven't planned it out yet. I'm flying in and out of London. I don't know where I'm going yet. I really don't. I spent an hour last night saying, hmm, do I do this? Do I do that? Do I do this? Do I do that? Do I want to go to a couple of places? Do I want to stand still at one?

Best thing about Europe? So many places are so close. Two-hour drive, two-hour flight, a three-hour train, direct. Speaking of flights, as I said, spur of the moment, I've been thinking, you know, I'm going to fly to San Antonio tonight or tomorrow morning. and go to the Knicks game tomorrow night. And in fact, there were no seats left on any flights from New York to San Antonio because a bunch of New Yorkers are going. So I went and looked at tickets. $12,000 is the cheapest ticket for the nosebleed section as of this second. $12,000 in San Antonio because of demand from New Yorkers.

That's what's going on And if I don't want them Going back home I hope they win this game But if they do game six in New York That crap's going to be 20,000 For the cheapest ticket

And then I'll really have a decision to make I'm worried San Antonio I got to tell you That was a terrible loss I watched a couple of their press conferences They look like a confident team. I think they're going to go out there. I think they forgot about it. Now they're playing a very

good resilient Knicks team. And I don't think the Knicks have played well at all yet and they're still up 3-1. So if San Antonio runs into a good Knicks game, I'm ready. Tomorrow night. I won't answer any phone calls. I will get in front of the TV with my father's picture next to me. my dog Winston by my side and there we go 1972 1988 7873

last time as Red Fox used to say in Sanford and son Elizabeth this is the big one I can't begin to tell you what this means some of you may know what this means that are real fans of their teams but I just cannot begin to tell you

that's tomorrow night and my wife is up in New York right now tending to my grandson so I'll be all alone so I can yell out F-bombs in every word and not have to worry

I will not answer the door I may order stone crabs I'm going to have to look at Joe see if they can deliver tomorrow I'm pretty sure they can do it in one day you have been to Joe Stone Crabbs in Miami All right I don't know what else to tell you

I told my peeps today Flip a coin Do you think this thing We are in a situation Last year was the tariffs Now the war We got more than two years left of this president I am in hopes

That nothing else Bubbles up That's all I can say as I've said Biden was never around seriously Trump is always around I'd be thrilled

and this is not an attack just less of them take a day off say nothing do nothing I don't think it's in him but we stand by him wish him well

hope his decisions are correct and does good things but you know where I stand on a lot of things. You know where I stand. The market itself, as long as it trades above moving averages, okay. That breaks below, not okay. The NASDAQ held the 50-day moving average within 10 points this week. And of course, had the big bounce yesterday because of the change of complexion with

going from we're going to bomb the S out of them to oh well we've been having discussions and everything's great now and now this there is differing things

coming out from everybody on where this is headed except there's a deal but it looks like there's two different deals I'm hopes we can come back Monday and it's all freaking done. I can't promise you that. We can only hope.

That's all. Back on SpaceX, nothing personal on the valuation part. Don't let me stop you if you're interested in the stock. We tell you facts when it comes to valuations.

Not hard to figure out. Here's the revenue. Here's whether they earn, or lose money. By the way, here's the market cap. You want to pay $2 trillion for a company with $18 billion and with $5 billion in losses last year? God bless you. If you bought it today on the open at $150 in the aftermarket right now, it's $164, you're up 9%. Oh, a little more than 9. We didn't. Oh, by the way, it was $176 at one time today. Get out a real good trade. So don't let us stop you. But consult your own sleep indicator. And as I said, I'm pretty sure there is no way

they're going to let that 150 go by unless the market takes a crapper. So you all have a great weekend. Drive carefully. When you get home, do like we do quite simple. Make sure you hug your family, hug your children. They will feel better. You will feel better. I promise they will be well. go nix have a great one everybody until monday bye bye this has been investors edge with gary cult bomb on biz talk to listen to past episodes or to get in contact with gary go to gary k dot com that's gary k dot com