WeShop Soars Again, ON Semi Tanks, and Russell Reshuffles

WeShop nearly doubled across two days. ON Semiconductor agreed to buy Synaptics for $7 billion to push into physical AI, and got the reception chip companies earn when they write checks nobody asked for.

Today's newsletter covers the Russell rebalancing at the close, a Fed voter's rate hike call, and every name that moved before the long weekend.

Energy infrastructure is under pressure as demand accelerates across AI, industrial, and defense sectors.

New technologies designed to improve power reliability and speed of deployment are attracting increased attention.

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Russell rebalancing hits today's close: 43 companies graduate from small-cap to large-cap, SpaceX joins the Russell 1000, and JPMorgan estimates $6 trillion in benchmarked assets shift, potentially one of the highest-volume sessions of the year.

Chip stocks fell because the New York Times reported OpenAI is considering delaying its IPO, with JPMorgan warning the delay "could slow the pace of infrastructure spending."

Minneapolis Fed President Kashkari flipped from expecting a cut to a hike by year-end after Thursday's PCE data hit its hottest reading since April 2023.

Oil closed close to $70 for the first time since before the Iran war… a full round trip on crude. Healthcare had its best week since 2022, up more than 7%, led by Eli Lilly on a European leukemia approval as investors rotated defensively all week.

SpaceX (NASDAQ: SPCX) plans to launch a Starlink mobile service aimed directly at American consumers.

The company is considering building its own terrestrial mobile network alongside its satellite coverage. It already spent nearly $20 billion last year acquiring wireless spectrum licenses to make this possible.

SpaceX went public two weeks ago. It is already signaling that rockets and the internet were just the beginning.

10 Million Subscribers and Growing

Starlink already serves over 10 million customers worldwide with satellite internet. Adding mobile phone service to that base creates a bundled offering that traditional carriers have never had to defend against.

A company beaming internet from orbit, launching rockets at will, and now eyeing your phone bill is not a competitor any carrier has faced before.

The Biggest Disruption Threat in Telecom

Analysts project SpaceX will reshape the $1.6 trillion U.S. communications industry.

The combination of satellite coverage, purchased spectrum, and an existing subscriber base gives it the foundation to offer something no carrier currently matches: coverage everywhere, no dead zones, no towers required.

You think about every dropped call, every rural dead zone, and every frustrating carrier bill, and SpaceX is positioning itself as the answer to all of it from space.

Chevron Corporation (NYSE: CVX) signed a deal to build a dedicated power facility for a Microsoft data center campus in West Texas. The plant generates enough electricity to power a city the size of San Francisco.

Now the company says it is exploring similar deals across the Midwest, Gulf Coast, Rockies, and Utah. One data center deal made the headlines. Scouting five more regions turns it into a business strategy.

Oil Companies Are Becoming Power Companies

Chevron has spent decades pulling fuel out of the ground. Now it is converting that fuel into electricity and selling it directly to the companies building AI infrastructure.

No grid. No utility middleman. Just a dedicated power supply from an energy giant to a tech giant.

A revenue stream completely separate from oil prices makes the model harder to dismiss. You watch an oil company build something that does not rise and fall with crude, and the strategic value becomes immediately obvious.

Five Regions, Multiple Customers, and Chevron Is Just Warming Up 

Chevron is not stopping at a single project or a single customer. The company is actively seeking additional deals with Microsoft and other tech companies across multiple states.

Each new facility adds long-term contracted revenue that behaves nothing like traditional oil and gas earnings.

You followed Chevron into Iraq, Venezuela, and Guyana this year. Now add data center power across America to the list.

This is no longer just an oil company. It is an energy infrastructure company that keeps finding new ways to make its fuel indispensable.

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PepsiCo Inc (NASDAQ: PEP) is rolling out QR codes across its beverage packaging that link directly to detailed information about every ingredient inside the bottle.

Scan the code, and it connects to independent safety data from the FDA, European regulators, and Health Canada.

PepsiCo is already live with the system. The rest of the industry has until 2027 to catch up.

This Is Not a Label, It Is a Strategy

Listing ingredients on a bottle is legally required. Linking every ingredient to independent government safety assessments is voluntary. That distinction matters enormously.

PepsiCo is giving consumers access to the same data regulators use to determine whether something is safe.

When your biggest brand risk is people questioning what goes into the product, the most powerful response is radical openness.

Trust Is the New Competitive Advantage

PepsiCo has been cutting prices, refreshing brands, and reformulating products with less sugar all year. Adding ingredient transparency completes the picture.

Every move this year points in the same direction. A company rebuilding its relationship with consumers one decision at a time.

You follow every move PepsiCo has made this year, and ingredient transparency is the piece that ties the rest together. Lower prices bring customers back.

Better products keep them. Full transparency makes sure they never have a reason to question the brand again.

WeShop Holdings [WSHP] $8.00 (+69.85%)

WeShop, a Hong Kong social commerce and AI shopping platform, is up another 66% today after surging 30% Thursday, two days of combined moves that push the total close to doubling.

Volume at 146x its normal average is the loudest signal: this is not organic demand, this is a heavily-shorted thin-float name getting squeezed in a week when everyone is distracted by chip stocks.

Cable One [CABO] $52.87 (+30.06%)

Cable One, the rural broadband provider that has been in a deep subscriber slump, got a Barclays upgrade Friday on what the analyst called a significant discount to the underlying broadband asset value.

The stock had been trading near multi-year lows. One fresh institutional conviction call is all a beaten-down name this thin needs to start moving.

Pedevco [PED] $15.42 (+29.54%)

Pedevco is a DJ Basin and Permian oil producer with a Strong Buy rating and an $18 analyst target, and it’s running on no fresh June 26 catalyst that’s confirmed in English.

What is confirmed: the company entered a Joint Development Agreement with a PE-backed DJ Basin operator earlier this year and expanded its credit facility in May.

In a week where oil fell hard, thin-float producers with clean balance sheets sometimes catch a bid on the oversold thesis.

ON Semiconductor [ON] $90.65 (-23.66%)

ON Semiconductor agreed to acquire Synaptics in a roughly $7 billion all-stock deal to push into physical AI: touchscreens, fingerprint sensors, and embedded edge AI chips.

Synaptics barely moved. ON fell 24%, which is the market voting against the strategic fit, the all-stock currency, and the valuation simultaneously. All three objections at once are a rough day.

Maase [MAAS] $12.77 (-26.82%)

Maase, the AI infrastructure and workload routing platform that surged earlier this week to nearly $21, is giving back a full quarter of its market cap in one session.

No fresh negative catalyst today.

It ran hard on thin volume and a momentum trade that never had a fundamental anchor, which is exactly the kind of setup that unravels fastest on a Friday before a long weekend.

Omeros [OMER] $8.67 (-19.12%)

Omeros had quietly gained eight consecutive sessions on YARTEMLEA commercial momentum and convertible note repurchase news, and Friday is where the streak ends.

No new negative headline.

The stock had clawed back from a $6.70 intraday low two weeks ago to nearly $11, and the sellers who bought that flush are taking their exit before the long weekend.

Elon is famous for creating an army of "Teslanaires" – people who became millionaires by buying Tesla shares.

Now, he's building an AI breakthrough that could be bigger than Tesla, SpaceX, and Starlink combined.

Nobel-Prize winning scientist Demis Hassabis says it's "going to be 10 times bigger than the Industrial Revolution, and maybe 10 times faster."

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That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback!

Thanks for reading. I'll see you at the next open! 

Best Regards,
— Adam G.
Elite Trade Club

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