Market Activity
2.30pm today feels big!!!!
June 12, 2026
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At 2:30pm today, investors around the world will witness something extraordinary.
SpaceX will begin trading publicly.
Not just another IPO.
Not another technology company.
Not another stock market listing.
A company valued at approximately $1.77 trillion.
A company generating roughly $19 billion of revenue.
A company investors are willing to value at almost 100 times annual sales.
Let that sink in for a moment.
Today could be remembered as one of those moments that future investors look back on and say:
"That was the peak."
Or...
"That was just the beginning."
The reality is nobody knows.
And that is exactly what makes today so fascinating.
The bulls will tell you this valuation is justified.
After all, SpaceX isn't simply a rocket company.
It is Starlink.
It is defence.
It is satellite communications.
It is artificial intelligence infrastructure.
It is one of the most ambitious businesses ever built.
The argument is simple:
You are not buying what SpaceX is today.
You are buying what SpaceX could become.
And if Elon Musk succeeds, today's valuation could look cheap in hindsight.
After all, investors once said Apple was overvalued.
They said the same about Amazon.
And Nvidia.
The bears see something very different.
They see a company being valued at almost 100 times annual revenue.
They see investors willing to pay extraordinary prices for future promises.
They see an AI boom that has already pushed technology valuations to levels rarely seen in history.
And they see more coming.
OpenAI.
Anthropic.
And a long list of AI-related businesses expected to follow.
To them, today's IPO is not a sign of strength.
It is a warning signal.
The sort of signal that often appears late in market cycles.
The sort of signal that has preceded bubbles throughout history.
Again...
Nobody knows.
Over the last week alone we have witnessed:
Fear and greed continue to battle for control.
And both sides can make a compelling argument.
One thing we have learned over the years is that markets rarely move in straight lines.
Sometimes they climb relentlessly.
Sometimes they collapse.
Sometimes they become euphoric.
Sometimes they become terrified.
The traditional wealth management industry largely responds in one way:
Buy.
Hold.
Hope.
At TPP, we built something different.
We have strategies designed for different market climates.
We have strategies that remain invested.
Strategies that can step aside.
Strategies that increase exposure when probabilities improve.
Strategies designed to react rather than simply endure.
That doesn't mean we will always be right.
It doesn't mean we won't experience difficult periods.
It doesn't mean we can predict the future.
Nobody can.
What it does mean is that we refuse to believe investors should simply sit and watch while markets dictate their fate.
Whether SpaceX doubles.
Whether it halves.
Whether today's valuation proves visionary or absurd.
One thing is certain.
Today will be remembered.
Because moments like this force investors to think.
They force investors to question assumptions.
They force investors to ask whether they are positioned correctly for what comes next.
And that question is becoming increasingly important.
Because regardless of whether the next chapter is another AI-fuelled boom or a painful correction, opportunities will exist.
They always do.
The key is being positioned to take advantage of them.
If recent events have left you questioning your portfolio, your exposure, or your current investment strategy, perhaps now is the time to have a conversation.
We are always happy to provide a free consultation and show you how TPP approaches different market environments.
No obligation.
No pressure.
Just an honest conversation about your options......
For those already investing with TPP, this is exactly why we built the business the way we did.
The headlines will continue.
The uncertainty will continue.
The volatility will continue.
But our focus remains unchanged.
Monitor the markets.
Assess the probabilities.
Position accordingly.
And continue looking for opportunities wherever they appear.
Today is a historic day.
Tomorrow may be too.
We'll be ready for both.......
Have a great weekend.....
Schedule a FREE consultation call here.
TPP strategies trade leveraged instruments, including equity index futures. Leverage magnifies both gains and losses, and the value of your investment can fall as well as rise. You may get back less than you invest. Capital is at risk.
*TPP client accounts have returned an average of 16.02% year to date, accurate as of 31 May 2026 and referring to the average of all client accounts. Past performance is not a reliable indicator of future results.
Disclaimer: The views expressed in this article are the author’s own and should not be considered to render any legal, business or financial advice. Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions.
This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. This material has been prepared for informational purposes only.
Past performance may not be indicative of future results. Therefore, you should not assume that the future performance of any specific investment or investment strategy will be profitable or equal to the corresponding past performance.
TPP is a trading name of UCapital Asset Management LLP. UCapital Asset Management LLP is authorized and regulated by the FCA - Financial Conduct Authority - with registration number 477155. Registered Company number OC333807..Our past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any investment strategy or product made reference to will be profitable, equal any corresponding historical performance or be suitable for your portfolio. There is a substantial risk of loss in trading financial markets. Past performance is not indicative of future results.
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- London Stock Exchange 2020
