Episode Details

A $45 billion hedge fund unwind rocked $ASTS this week.

Kook breaks down why Citadel was suddenly trading everywhere.

In this solo episode, Kook walks through the trading fallout from Situational Awareness's forced liquidation, and how Citadel emerged as the top trader in AST SpaceMobile ($ASTS), Rocket Lab, SpaceX, Redwire, Intuitive Machines and other satellite and momentum names. Kook explains how hedge fund deleveraging, margin calls and cross-holdings dragged ASTS stock down alongside T1 Energy, NBIS, IREN and SanDisk, even though AST SpaceMobile wasn't directly held in the fund's book. He also discusses how satellite and direct-to-cell companies could see a healthier setup now that leverage has been flushed from the system, with AST SpaceMobile's August catalysts still ahead.

00:00 Introduction

00:16 Questions About Yesterday's Thread

00:33 Citadel Spotted Trading T1 Energy

01:37 Checking Other Situational Awareness Holdings

04:38 Citadel Shows Up in AST SpaceMobile Trading

05:18 Citadel Active Across Robinhood and Coinbase Too

06:41 Why Citadel Would Hedge Beta Exposure

07:59 Rumors of Situational Awareness Unwinding

09:26 Lessons From the 2008 Financial Crisis Playbook

10:59 How Forced Liquidations Create Overswings

13:17 Word Travels Fast in Distressed Situations

15:47 A 10-Sigma Deleveraging Event

17:11 Hedge Funds Down Double Digits This Month

19:58 Risk-Reward Improves After the Selloff

21:09 Mental Health and Avoiding Margin

22:19 Cycles of Euphoria and Deleveraging Are Speeding Up

23:26 Closing Thoughts on Market Health and August Catalysts

🎙️ Catch all episodes on Spotify: https://open.spotify.com/show/5u6rTxenTvGw4STNbjswAk

👋 Connect with the host on X: https://x.com/thekookreport

👕 Get the Gear: https://spacemob.printify.me/

📩 AST SpaceMobile Podcast Newsletter: https://ast-spacemobile-podcast.beehiiv.com/