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First a note from Banyan Hill Research
Dear Reader,
In the days leading up to June 12, one trader on Wall Street stood almost completely alone.
While nearly every media outlet in America was selling readers on the biggest IPO in stock market history...
Hall of Fame Trader Jon Najarian was saying the opposite.
He was right.
The math he laid out before the IPO was simple. SpaceX went public at a valuation as high as $2 trillion. Early investors who got in years ago at a fraction of that valuation already made their fortunes.
The IPO day buyers were paying a massive premium.
But Jon's full analysis was never just a warning.
It was a recommendation – a publicly traded company building exactly what Elon needs for his next venture. A venture Morgan Stanley estimates at $40 trillion.
A company that's 42 times smaller than SpaceX. The recommendation is still open.
Click here to see Jon's "Beyond SpaceX" presentation.
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Congress Bought SpaceX. Where’s the Value?
Hey there, bargain hunter.
Quick question: why do markets keep confusing “most famous” with “best value”?
Because famous is easy to buy. Value takes work. And when a headline name hits the market, perception tends to run faster than fundamentals.
Scoreboard
Six House members disclosed SpaceX purchases tied to the public listing in June 2026. Two are Democrats. Four are Republicans. Dollar amounts are disclosed in ranges, not exact figures.
- Rep. Jared Moskowitz (D): Bought $1,001 to $15,000 (trade date Jun 12, 2026; filed Jul 26, 2026)
- Rep. Gilbert Cisneros (D): Bought $1,001 to $15,000 (trade date Jun 18, 2026; filed Jul 2, 2026)
- Rep. William R. Timmons IV (R): Bought $50,001 to $100,000 (trade date Jun 15, 2026; filed Jul 19, 2026)
- Rep. John McGuire (R): Bought $1,001 to $15,000 (trade date Jun 15, 2026; filed Jul 8, 2026)
- Rep. Daniel Meuser (R): Bought $15,001 to $50,000 (trade date Jun 15, 2026; filed Jul 2, 2026)
- Rep. John James (R): Bought $15,001 to $50,000 (trade date Jun 12, 2026; filed Jul 12, 2026)
Source note: these transaction details match STOCK Act trackers that compile House filings, including Quiver Quantitative, Pelosi Tracker, and MarketBeat.
What actually happened
A bunch of people saw “SpaceX is now buyable” and did the most human thing possible. They bought the name they already knew.
That does not mean anyone has special insight. Congressional trading data is messy. Trades can be handled by advisers or spouses, filings can lag, and ranges can make a small position look bigger than it feels in a real portfolio.
But it does give you a clean teaching moment: when a category-defining platform becomes investable, the first wave of capital usually crowds into the platform. The value, the kind we care about, often shows up in the suppliers and incumbents whose fundamentals improve while the spotlight stays elsewhere.
The mispricing test
The market’s default belief: if SpaceX wins, you have to own SpaceX.
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