A record IPO is already priced for perfection, and a buyout spike looks stretched after a huge run. The cleaner opportunity is the AI infrastructure name getting real index demand and stronger institutional attention.
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Futures at a Glance📈
Futures are jumping after Trump said a deal to end the U.S.-Iran war is complete. Asia rallied hard overnight, oil is sliding on the Strait of Hormuz reopening, and risk appetite is back in control to start the holiday-shortened week. Traders are also carrying momentum from SpaceX’s blockbuster debut, with the Fed meeting and fresh economic data next on deck.
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What to Watch
Earnings (Premarket):
• PowerFleet, Inc. [AIOT]
• Canopy Growth Corporation [CGC]
• Coda Octopus Group, Inc. [CODA]
Earnings (Aftermarket):
• Dave & Buster’s Entertainment, Inc. [PLAY]
• High Tide Inc. [HITI]
• RF Industries, Ltd. [RFIL]
• Quantum Corporation [QMCO]
• Domo, Inc. [DOMO]
Economic Reports:
• Empire State Manufacturing Survey (Jun.): 8:30 am
• Industrial Production, M/M% (May): 9:15 am
• Capacity Utilization % (May): 9:15 am
• NAHB Housing Market Index (Jun.): 10:00 am
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$7.35 Million In Insider Selling Just Hit Two Very Different Setups
You’re watching one broken software chart and one streaming stock ripping on takeover chatter. From the outside, they look like totally different trades. But Elite Trade Club Insider readers are seeing what most investors miss: insiders are using both weakness and momentum to turn equity into cash before the next move becomes obvious.
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Space
Space Exploration Technologies Is a Great Company at a Bad Price
Space Exploration Technologies Corp (NASDAQ: SPCX) is already testing the limits of IPO enthusiasm. The stock jumped 19% in its Nasdaq debut after pricing at $135, closed near $161, and moved another 5.5% higher in premarket trading Monday.
That puts the company’s market cap around $2.1 trillion. For a business that lost nearly $5 billion in 2025, that is a demanding starting point.
The bull case is obvious. SpaceX owns Starlink, reusable rockets, and now xAI after Elon Musk merged the AI startup into the company earlier this year. It gives investors exposure to space, satellite internet, launch infrastructure, and AI in one stock.
The problem is the price. First-quarter capital spending hit $10.1 billion, up from $4.1 billion a year earlier, with most of that going toward AI. That level of spending raises the execution bar.
Analysts are already split. CFRA launched coverage with a Sell rating and a $115 price target. Morningstar valued the stock at $63. New Street was more bullish with a $165 target, but that is already close to where the stock trades.
My Take For You: SpaceX is one of the most important growth companies in the market, but the stock already prices in years of flawless execution.
My Verdict: Sell this. The risk is that IPO momentum fades as investors shift from the story to the losses, capex, and valuation.
Streaming
Roku Looks Fully Valued After the Buyout Spike
Roku Inc (NASDAQ: ROKU) just had the kind of move that forces a rethink. Shares surged 20.1% on Friday after reports said the company had held talks with at least one potential buyer.
The rally pushed Roku to $143.66, close to its 52-week high of $148.88. The stock is now up 93.1% over the past year, far ahead of the S&P 500’s 24.3% gain.
Baird downgraded Roku to Neutral from Outperform after the jump, with a $160 price target. The message was simple: the story is better, but the risk/reward is no longer attractive.
That makes sense. When Baird turned positive in late 2024, only 42% of analysts recommended Roku. Now, 86% do. Fiscal 2027 EBITDA estimates have also climbed from $719 million to $903 million.
Roku deserves more credit for its ad business, home screen monetization, and reach across more than 100 million households. But the stock has already absorbed a lot of that optimism.
My Take For You: Roku’s business has improved, but the stock has moved faster than the near-term catalyst base.
My Verdict: Sell this. The risk is that buyout chatter fades and investors lock in gains after a 93% one-year run.
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AI Infrastructure
Nebius Group Gets a Real Catalyst From the Nasdaq-100
Nebius Group NV (NASDAQ: NBIS) has momentum, and this time the catalyst is real. The AI infrastructure company is set to join the Nasdaq-100 as part of the June 2026 rebalance, with the change expected around June 22.
That matters because index-tracking funds need to adjust their holdings. Mechanical demand does not guarantee long-term upside, but it adds a powerful short-term tailwind.
The fundamentals are also strong enough to support the move. Nebius has a £1.7 billion UK capacity plan, a multiyear agreement with Meta, and a $2 billion equity investment from NVIDIA.
This is not just an index-flow story. Nebius is building GPU-heavy cloud infrastructure for AI workloads, exactly where enterprise demand is moving. Contracts with major customers give the company real revenue visibility.
The valuation is not cheap. The stock is up more than 360% over the past year, carries a market cap near $59 billion, and trades around 85x earnings. But earnings are forecast to grow more than 40% annually, and the company has only recently started monetizing a large AI infrastructure footprint.
My Take For You: Nebius is expensive, but the Nasdaq-100 inclusion, NVIDIA backing, and AI infrastructure demand give the stock a stronger setup than the other momentum names here.
My Verdict: Buy this. The risk is that index-driven buying fades before new capacity turns into enough revenue to support the valuation.
Trivia: One of Wall Street's most powerful long-term signals is when a company consistently buys back its own stock at cheap prices. Which famous investor has called buybacks "the most shareholder-friendly use of capital" when done right?
Movers and Shakers
AXT Inc. [AXTI]: Premarket Move: +13%
AXT is ripping again after a report warned that China’s slow export approvals could create a shortage of indium phosphide, a key material used in optical chips for AI data centers.
That puts AXTI directly in the spotlight. The company makes compound semiconductor substrates, including indium phosphide, so any supply squeeze turns it into a scarcity trade fast. The stock is already up more than 4,500% over the past year, so this is not a quiet setup anymore.
My Take: Buy the momentum, but keep it tactical. This is a scarcity trade, not a valuation trade, so take wins quickly if the shortage story starts losing steam.
Wolfspeed [WOLF]: Premarket Move: +13%
Wolfspeed is jumping after Citrini Research highlighted the power-chip maker, adding fresh fuel to one of the market’s hottest rebound trades.
The stock has already climbed more than 3,200% over the past year, so the easy contrarian money is gone. But power semiconductors remain a serious theme, especially as AI, EVs, and grid upgrades all need better energy efficiency.
My Take: Do not chase the open; wait for the first pullback. This is a momentum name now, and buying the spike gives traders too much room to fade you.
Venture Global [VG]: Premarket Move: −4%
Venture Global is sliding with the energy complex after the U.S.-Iran peace deal sent crude lower and reopened the Strait of Hormuz risk trade. U.S. crude fell nearly 5%, and anything tied to energy exports is feeling the pressure.
The move makes sense in the short term. VG benefited from a higher geopolitical risk premium, and that premium is coming out fast. But this looks more macro-driven than company-specific. LNG demand did not disappear because oil sold off overnight.
My Take: Use the weakness as a watchlist setup, not an opening-bell buy. If VG stabilizes after the first flush, the stock gives you a cleaner trade than chasing the panic.
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Everything Else
📈 Big-money accumulation is starting to stand out, as Wall Street funnels fresh capital into stocks showing the kind of tape action that often precedes a larger run.
🕊️ A potential U.S.-Iran peace deal is giving markets a fresh reason to rethink the war-risk trade.
📈 SoftBank jumped more than 12% as the Iran-U.S. peace headlines gave beaten-up AI stocks some breathing room.
🧠 Meta hired Alexandr Wang to help build its AI future, but now Zuckerberg has to sell the bigger vision.
🇨🇳 ByteDance is reportedly talking with China’s Iluvatar CoreX about buying AI chips as local players chase domestic supply.
🔒 The U.S. is reportedly blocking foreign access to Anthropic’s most advanced models, raising the stakes in the AI controls fight.
That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.
Best Regards,
— Adam Garcia
Elite Trade Club
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