The Rundown

Morningstar equity analyst Nicolas Owens breaks down why his team values SpaceX at just $63 per share despite the stock soaring above $200 after its IPO. We unpack the assumptions behind SpaceX's most ambitious bets, from reusable Starship launches to data centers in space and the company's growing AI ambitions. Owens also explains where he thinks investors may be getting ahead of themselves, why Starlink's opportunity could be smaller than advertised, and what milestones could ultimately justify the hype. Plus, we discuss the odds of a future Tesla–SpaceX merger and what it could mean for shareholders.

Market update for Wednesday June 17, 2026
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In today’s episode, Zaid covers:
Kevin Warsh's first meeting as Fed Chair and why the conversation has flipped from rate cuts to rate hikes

OpenAI's leaked Q1 financials reveal surging revenue AND surging losses

Snap unveils $2,200 AR smart glasses and the stock immediately tanks

AST SpaceMobile launches three satellites aboard a SpaceX rocket

Lionsgate whipsaws on Netflix acquisition rumors

SpaceX options shatter every record in their trading debut

NOTE: No episode Thursday or Friday. The stock market is closed Friday for Juneteenth. No deep dive this weekend as well, but an interview will be posted on Sunday morning. We'll be back on Monday with a full recap of the Fed meeting.

Market update for June 16, 2026.
Check out the Public app for incredible investing tools and to support the show (LINK)
Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions.
Deep Dive: Why Google Just Raised $85B It Didn't Need

Market update for Monday June 15, 2026
Check out the Public app for incredible investing tools and to support the show (LINK)
Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions.
In today’s episode, Zaid covers:
The US and Iran reach a peace deal to reopen the Strait of Hormuz

Why the US government forced Anthropic to pull its most powerful AI model just days after launch 

SpaceX pulls off the biggest IPO in history (and just made it even bigger)

Paramount-Warner Bros. gets cleared to buy WBD

Fox buys Roku for $22 Billion

Knicks shatter merch record

Navan CFO Aurélien Nolf joins Zaid to break down the company's rapid growth, why corporate travel demand remains resilient, and how Navan is building custom AI models. They explore the rise of agentic AI, how the company bounced back from a bumpy IPO debut last Fall, and the businesss trends that drove bookings growth of 50% year over year in their most recent quarter. Plus, Nolf shares his perspective on the AI infrastructure boom and what it means for the next generation of software companies.