A Nobel Prize-winning economist said it plainly: "We're investing more than we should."
That's not a fringe opinion anymore. It's coming from MIT researchers, JPMorgan's CEO, Bridgewater's founder, and even the people inside the AI industry itself. The concern isn't that artificial intelligence is fake — it's that the stocks built around it have been priced like the profits are already guaranteed. They're not.
Warren Buffett's preferred market valuation tool recently hit 217% — the highest reading ever recorded. A reading above 200% is historically considered a danger zone. The last time sentiment was stretched anywhere close to this, it took the Nasdaq over a decade to recover what it lost.
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The circular nature of the deals being cut between these companies — where suppliers are financing customers who are spending money back with those same suppliers — has led more than one analyst to call it a house of cards waiting for a reason to fall. Maybe it holds together. Maybe it doesn't. But if you're sitting in a retirement account that's heavily concentrated in these names, you're not invested in the future of technology. You're holding a bet on the timing.
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Why Rocket Lab’s Nasdaq-100 Moment Could Change the Story
By Ryan Hasson. Article Posted: 6/18/2026.
Key Points
- Rocket Lab is being added to the Nasdaq-100 Index effective June 22—a milestone that triggers mandatory share purchases from passive funds and ETFs tracking the benchmark.
- Multiple analysts upgraded or raised price targets on Rocket Lab in June, with KeyCorp setting a $135 target and upgrading the stock to Overweight.
- Rocket Lab's roughly 28% pullback from its 52-week high was driven by sector-wide rotation following the SpaceX IPO, not by any deterioration in its fundamentals.
- Special Report: SpaceX is offering you shares. Don't take them.
Rocket Lab (NASDAQ: RKLB) has had a milestone few weeks, even as the stock has pulled back meaningfully from its highs.
On June 11, the company was announced as one of five new additions to the Nasdaq-100 Index, with the change taking effect before the market opens on Monday, June 22.
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Get the full details and the ticker in Navellier's free presentationFor a company that was a small-cap launch provider not long ago, joining the 100 largest non-financial companies on the Nasdaq is a significant sign of how far the business has come. And it may be arriving at an interesting moment for the stock.
Why the Nasdaq-100 Inclusion Matters
Rocket Lab joins the Nasdaq-100 alongside four other AI-linked names, including Nebius (NASDAQ: NBIS). The index inclusion is more than just a symbolic milestone. When a stock joins a major index, the passive funds and ETFs that track that index are required to buy shares, creating a source of structural demand that did not exist before.
With Rocket Lab entering one of the most widely tracked benchmarks in the world, forced buying from index funds could provide a steady tailwind for the stock over time, while also broadening the institutional coverage and liquidity it receives.
A Wave of Analyst Upgrades
The index news has been accompanied by a series of bullish analyst moves. Most recently, on June 15, KeyCorp upgraded Rocket Lab to Overweight from Sector Weight, setting a $135 price target that implies meaningful upside from recent levels. Analyst Michael Leshock framed the recent sell-off in space stocks as unwarranted, citing Rocket Lab's strong fundamentals, its vertically integrated model mirroring SpaceX's (NASDAQ: SPCX) long-term trajectory, and a structural shortage of launch capacity expected to leave the market undersupplied for more than a decade.
KeyCorp was not alone. Earlier in June, Clear Street raised its price target to $129 from $98, citing accelerating growth through 2030 supported by industry-wide launch undersupply and noting that Rocket Lab's core business is nearing profitability. Stifel also recently lifted its target to $132, maintaining a Buy rating on the back of strong revenue momentum and an expanding backlog. The consensus rating is Moderate Buy, with price targets as high as $150.
The SpaceX IPO and the Pullback
The reason Rocket Lab pulled back in the first place is somewhat counterintuitive. SpaceX made its historic Nasdaq debut on June 12 in the largest IPO in history, an event that officially made Elon Musk the world's first trillionaire. Rather than lifting all space stocks, the listing triggered a wave of profit-taking and rotation out of the smaller space names that had run up in anticipation of it. Rocket Lab, despite being widely viewed as the clear No. 2 in the commercial space sector behind SpaceX, fell with the group and now trades roughly 28% below its 52-week high.
That dynamic is exactly what KeyBanc flagged as a buying opportunity. A sell-off driven by asset rotation rather than any deterioration in the underlying business often creates a more attractive entry point for long-term investors. And the underlying business has not slowed. Q1 2026 revenue came in at a record $200.35 million, up 63.4% year over year. The backlog stands at a record $2.2 billion, and the Neutron rocket remains on track for its debut launch later this year.
The pullback has also created an intriguing technical setup for the stock. Shares of Rocket Lab have spent close to one week building a base above $100, attempting to turn that level into new support. If the bulls regain control and the stock takes out the previous week’s high near $118, a higher low will be confirmed. The $100 level, which also coincides with the 50-day SMA, will be the key level for bulls to watch going forward.
Where Things Stand
The setup heading into the June 22 index inclusion is interesting. The stock has pulled back sharply from its highs, but the decline was driven by sector-wide rotation around the SpaceX listing rather than anything specific to Rocket Lab. The fundamental story remains firmly intact, with record revenue, a record backlog, Neutron approaching its first flight, and an expanding national security pipeline.
The analyst community has responded to the weakness not with downgrades but with a wave of upgrades and raised price targets, even as the stock, now up almost 54% year to date, trades just above the consensus target.
For investors, the combination of a pullback that looks technical rather than fundamental, accelerating analyst conviction, and a major index inclusion arriving in the same window makes this a moment worth watching closely.
SpaceX’s Historic IPO Has Already Sparked a 2X ETF Frenzy
By Ryan Hasson. Article Posted: 6/22/2026.
Key Points
- SpaceX's record-breaking IPO at a $1.77 trillion valuation triggered a rapid wave of over eight leveraged ETF launches within days of its listing.
- SPCU and SSPC deliver 2x amplified long and short exposure to SpaceX, with SSPC carrying a notably lower expense ratio of 0.75% versus SPCU's 1.31%.
- Volatility decay from daily leverage resets means traders can correctly predict SpaceX's direction over weeks yet still lose money in SPCU or SSPC.
- Special Report: SpaceX is offering you shares. Don't take them.
When SpaceX (NASDAQ: SPCX) priced its IPO at $135 per share and began trading on Nasdaq on June 12, it did more than make history as the largest IPO ever recorded, with a valuation of nearly $1.77 trillion. It also triggered one of the fastest waves of leveraged ETF launches the market has ever seen. Within days of the listing, no fewer than eight leveraged and inverse ETFs tied to SpaceX hit the market, as issuers rushed to give traders amplified ways to play one of the most anticipated and volatile new stocks in years.
For traders with a larger risk appetite, these products offer a way to express a strong directional view on SpaceX, both bullish and bearish. Two of the most notable are the Defiance Daily Target 2X Long SpaceX ETF (NYSEAMERICAN: SPCU) on the long side and the Leverage Shares 2X Short SPCX Daily ETF (NYSEAMERICAN: SSPC) on the short side.
SPCU: The 2X Bullish Bet
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In February 2016, Louis Navellier recommended Nvidia at $2.51 split-adjusted - before a 44,000% gain. He also called Apple before a 36,000% rise and Microsoft before a 60,800% climb.
Now Navellier says he's seeing the same data pattern in a little-known company tied to a government AI project called Golden Dawn - a system he believes could trigger a $100 trillion reset of AI markets. He's revealing the name and ticker for free.
Get the full details and the ticker in Navellier's free presentationThe Defiance Daily Target 2X Long SpaceX ETF launched on June 15 and seeks to deliver 200% of SpaceX stock's daily performance, before fees and expenses. If SpaceX rises 1% in a day, SPCU targets a 2% gain. If SpaceX falls 1%, SPCU targets a 2% decline. It is built for active traders who want amplified, margin-free exposure to continued upside in SpaceX through a single, exchange-listed trade.
The bull case that SPCU is designed to amplify is compelling. SpaceX commands an estimated 90%-plus share of global mass-to-orbit through its dominant reusable-rocket business. It operates the rapidly expanding Starlink satellite broadband network and, following its acquisition of xAI in February 2026, develops frontier AI models, including Grok, while also operating the X platform. For traders who believe that the vertically integrated story will continue to drive the stock higher in the near term, SPCU offers a way to double down on that conviction. But it's important to remember that it also comes with double the downside risk.
SSPC: The 2X Bearish Bet
On the other side sits the Leverage Shares 2X Short SPCX Daily ETF, which seeks to deliver -200% of SpaceX's daily performance. When SpaceX falls 3% in a day, SSPC targets a 6% gain. When SpaceX rises 3%, SSPC targets a 6% loss. It gives traders a way to express a bearish view or tactically hedge a long position without the complexity of put options, the operational burden of borrowing shares to short, or the margin requirements of futures.
If SpaceX continues its post-IPO momentum, losses on SSPC would accumulate at double the rate of the underlying move. In terms of liquidity, SSPC has been one of the most successful leveraged SPCX ETF listings so far, trading an average of nearly 80 million shares per day since listing. Notably, SSPC carries an expense ratio of 0.75%, meaningfully lower than SPCU's 1.31% and among the lowest of the available leveraged SpaceX products.
The Critical Risk Every Trader Must Understand
The single most important thing to understand about both of these funds is the word "daily." SPCU and SSPC reset their leverage at the start of each trading session. That makes them effective tools for expressing a one-day directional view, but it also means they are not designed to be held for longer periods. Over multiple days, a phenomenon called volatility decay can set in, a compounding effect that may erode returns even if SpaceX moves in the direction you predicted over that stretch. It is entirely possible to be right about SpaceX's direction over a week or a month and still lose money in one of these funds.
The leverage cuts both ways and cuts hard. An investor could lose the full value of their position in a single day if SpaceX moves more than 50% against them in one session, a scenario that is highly unlikely but worth noting. In that regard, these are not buy-and-hold investments, and they are explicitly designed for knowledgeable, active traders who monitor their positions closely.
Trading Vehicles That Aren’t for Everybody
The SpaceX IPO has given traders an unprecedented menu of ways to play the most talked-about stock on the market, and SPCU and SSPC sit at the higher-risk, higher-reward end of that menu. For sophisticated traders with a clear short-term directional view and the discipline to manage the position actively, they offer a powerful, margin-free tool. For everyone else, the volatility decay, the daily reset mechanics, and the sheer magnitude of potential losses make these products worth understanding thoroughly before participating.
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