Corporate insurgencies peaked this month, with October already half over. The article breaks down and sizes up the five biggest dramas.
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A Yahoo Finance segment discusses the Tesla (TSLA) Roadster debut and the SpaceX (SPCX) event, with host Brian Sozzi calling it the second most mind-blowing tech product unveiling in the past 25 years, behind the iPhone. Guest Eric Jackson argues that a Tesla-SpaceX merger would make little sense while both companies carry a premium valuation tied to Elon Musk. He says that premium has ebbed this year after Musk's departure from DOGE and politics, and after SpaceX's stock pulled back following its IPO. The introduction also previews a discussion on alternatives to college, but the transcript is cut off before that section.
- SpaceX Stock Has Climbed About 50% Through 6 Insider Share Unlocks. The Biggest Is Still Ahead.
About 2.3 billion SpaceX (SPCX) shares held by employees and early investors have been unlocked since early August, versus 639 million sold in the June IPO. Shares closed Monday near $163, about 50% above the $108 close on Aug. 5; measured from the close before a roughly 14% drop after the first earnings report, the gain is about 30%. Release-day moves have shrunk: shares rose 6% on Aug. 6, while later releases ranged from a 4% decline to a gain of just over 1%. The largest unlock, about 1.3 billion shares, follows the third-quarter earnings report and is roughly 40% bigger than August's first release; the three remaining releases could total around 2.4 billion shares. Q2 revenue rose 92% to $7.8 billion, but the roughly $2.2 trillion market cap equals about 71 times annualized Q2 sales.
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The Nasdaq-100 returned 20.6% annually over the last 10 years, compared with 15.5% for the S&P 500. Based on Wall Street's median target prices, consensus estimates suggest all three stocks could double investors' money over the next year, with the highest implied upside at CoreWeave (target of $130 vs. a current $54, or 140%), Nebius Group ($300 vs. $150, 100%) and Alnylam Pharmaceuticals ($317 vs. $158, 100%). CoreWeave's second-quarter revenue rose 112% to $2.5 billion, but interest expense rose 140% and consumed 25% of sales as the company leans heavily on debt. Nebius' second-quarter revenue soared 454% to $582 billion, and SemiAnalysis placed it in the platinum tier in September 2026. Alnylam's third-quarter product revenue rose 52% to $1.2 billion, driven by its TTR franchise.
- Judge Orders Bitcoin Wallet Returned to Family of Convicted Canadian Killer
Nova Scotia Supreme Court Justice John Bodurtha ordered a laptop containing a Bitcoin wallet returned to the family of William Sandeson, who is serving a life sentence for the 2015 murder of Taylor Samson. The judge found the Crown had not proved the cryptocurrency was used in the drug transaction, was proceeds of crime or was otherwise tainted, calling its use in the deal 'hypothetical.' Sandeson has put the wallet's value at about $5,800 to $7,200 (C$8,000 to C$10,000), while a lawyer for Samson's family said it could be worth more than $144,000 (C$200,000). About $3,600 (C$5,000) in cash found in the apartment was ruled offence-related property and will not be returned. Sandeson was convicted of second-degree murder at a 2023 retrial, despite claiming he acted in self-defense, and will be eligible for parole in 2030.
- Will Crypto Rally After the Midterm Elections? If History Is Any Guide, This Happens Next.
Bitcoin has historically performed strongly in the year after midterm elections, rising 1,579% in 2010-11, 24.1% in 2014-15, 44.9% in 2018-19 and 92.1% in 2022-23. Excluding the 2010-11 cycle, when the market was much smaller, Bitcoin gained an average of 54% in the year after midterms, according to CoinDesk. This cycle could differ: Trump has issued executive orders on a Strategic Bitcoin Reserve, Congress passed the Genius Act for stablecoins, but the Clarity Act has not passed, and Democrats are favored to win control of Congress and may demand more concessions from Trump. Bitcoin has typically surged for 12 to 18 months after its four-yearly halvings before falling into a bear market, so the post-midterm gains may partly reflect that pattern rather than the midterms themselves. Crypto remains extremely volatile, making near-term outcomes difficult to predict.
- Justin Sun seeks $264K sanctions over World Liberty's UAE disclosure
Justin Sun is asking the court to impose $263,821.20 in sanctions on World Liberty Financial and its lawyers, accusing the company of a misleading disclosure about its ownership in a dispute over his $45 million WLFI token investment. According to the filing, World Liberty first listed Florida as its sole citizenship, then nearly three months later amended the disclosure to identify 22 individuals and entities in its ownership chain, including parties in the UAE. The amendment came six days after a federal judge questioned the company's bid to move Sun's claims into arbitration. World Liberty later argued that its UAE citizenship deprived the federal court of jurisdiction, while Sun said he plans to refile in California state court once the sanctions motion is resolved, with a hearing set for Dec. 10.
- Palantir Just Did This for the First Time Ever. Is the Stock a Buy?
Palantir (PLTR) reported third-quarter revenue up 96% to $2.3 billion and raised some full-year forecasts. For the first time, its U.S. commercial revenue ($984 million) surpassed its U.S. government revenue ($953 million), as its U.S. commercial customers grew from fewer than 20 a few years ago to more than 600. The stock is still described as expensive, at more than 100x forward earnings estimates, while new U.S. commercial contract value reached $1.4 billion in the third quarter, up 11%, after $2.1 billion (up 153%) in the second quarter. The author views the stock as a better fit for aggressive investors willing to hold for the long run.
- West Red Lake Gold Announces Integrated PFS Delivering C$764 Million Post-Tax NPV and Annual Gold Production of 100,000 Ounces Once Rowan Enters Production
West Red Lake Gold (TSXV: WRLG) released an integrated pre-feasibility study for its 100%-owned Madsen Mine and the Rowan Project in Ontario's Red Lake district. The 10-year plan targets about 884 thousand ounces of recovered gold, averaging 88 thousand ounces a year and 108 thousand ounces a year from 2029 to 2034, when Rowan begins production. At a long-term gold price of US$3,568 per ounce, after-tax NPV is C$764 million; at a gold price 10% higher (US$4,161 per ounce), NPV rises 31% to C$1.0 billion. LOM cash costs are US$1,795 per ounce and AISC is US$2,457 per ounce, with C$200 million of growth capital needed. The plan excludes the Wedge, Russet and Mount Jamie deposits and possible depth extensions, which the company says could extend mine life through future drilling, engineering and permitting.
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