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SpaceX grounded
Description
SpaceX has fallen back below its $135 listing price and sits more than 30% off its post-listing peak, with insiders expected to begin selling as lockup periods expire over the coming months. The company has yet to confirm a date for its first earnings report. TSMC's record 77% profit jump offers some relief to chip investors after a rocky week. Plus, the British pound climbs to a one-year high against the euro on UK finance minister speculation.
Today’s recommended read: Fed flip-flops make case for less talk, Mike Dolan
Read more from Amanda Cooper and Anna Szymanski
Produced by Eliza Davis Beard and Abisoye Adelusi
Sound engineering and music by Sebastian and Josh Sommer
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