SpaceX at $1.75T, AVGO Down 15%, and the PDT Rule Is Dead — The Week That Broke the Internet
From the SpaceX IPO circus to Broadcom's brutal reality check, this week had more plot twists than a Netflix finale
Ticker Ratings
| Ticker | Rating | Entry Price | Current | $ Gain | % Gain |
|---|---|---|---|---|---|
| AVGO Broadcom Inc. | hold | $395.94 | — | — | — |
| LULU lululemon athletica inc. | sell | $113.95 | — | — | — |
| PANW Palo Alto Networks Inc | hold | $275.62 | — | — | — |
| DOCU DOCUSIGN, INC. | hold | $47.65 | — | — | — |
| BTC Grayscale Bitcoin Mini Trust ETF | sell | $60465.00 | — | — | — |
| ULTA Ulta Beauty, Inc. | hold | $468.79 | — | — | — |
| WOOF Petco Health & Wellness Company, Inc. | sell | $2.79 | — | — | — |
| FIVE FIVE BELOW, INC | sell | $195.46 | — | — | — |
| UNH UNITEDHEALTH GROUP INC | buy | $401.78 | — | — | — |
| GME GameStop Corp. | hold | $21.81 | — | — | — |
Let's start with the headline nobody saw coming: the Pattern Day Trade rule is dead. Traders under the $25K threshold can now day trade common shares freely — no more three-day cash settlement purgatory. TheChartGuys covered it on YouTube and the retail crowd is absolutely feral about it. Coincidentally, the week also delivered the SpaceX IPO roadshow, targeting $135/share at a $1.75 trillion valuation — 95x last year's revenue, for a company that isn't yet consistently profitable. Ray Wang's advice on CNBC: wait for the post-IPO dip. Facebook flashbacks are real.
Meanwhile, $AVGO got absolutely rinsed — down ~15% — after Q3 AI revenue guidance of $16 billion missed the $17.2B consensus. Broadcom had already run 60%+ from March lows, so the bar was Mount Everest. Citi called it a buying opportunity. The Philadelphia Semiconductor Index dragged. South Korea's KOSPI dropped 5.5% on Samsung and SK Hynix exposure. On the flip side, $M posted its strongest Q1 comp growth in four years at +3% and raised guidance — because apparently someone is still buying throw pillows.
The US May jobs report dropped 172,000 jobs versus the 88,000 expected, which is great for employment and terrible for anyone hoping for Fed rate cuts. New Fed Chair Kevin Warsh is reportedly floating a 'trimmed mean' inflation calculation that conveniently shows 2.3% — nothing suspicious there. And Bitcoin slid to around $60,000, roughly 50% off its peak, with the average ETF holder's cost basis sitting at $83,000. That's not a dip. That's a crater.