Heimdall Capital

Deep Research on the Companies, Sectors, & Themes Shaping Markets.⬇️

[Heimdall Capital @HeimdallCap]

$LQD Great to chat this week with Monica Erickson, PM & Head of Investment Grade Credit at DoubleLine Capital ($100B+ AUM). Monica joins me to breakdown the US IG credit market & the future of the asset class. Enjoy!
Apple: https://t.co/R0zVR4uruT
Spotify: https://t.co/FBEND3LJeT

[Heimdall Capital @HeimdallCap]

@DeItaone https://t.co/DBVTIend6x

[Heimdall Capital @HeimdallCap]

The @SpaceX IPO narrative is far bigger than rockets.

The S-1 frames a much broader thesis: a leading launch platform, Starlink cash generation, AI infrastructure, orbital compute, and deep vertical integration. This creates a rare multi-platform growth story, but also a difficult underwriting question: how much should investors pay today for multiple platforms that still require massive capex, near-flawless execution, and long-dated monetization?

The highlights below unpack what we know today about the @SpaceX IPO beyond the surface-level growth story 🧵

Download the full report for free at https://t.co/9m9ZAiYmW5.

#SpaceX #IPO #PublicMarkets #Starship #CapitalMarkets #AIInfrastructure #Starlink #Grok #xAI

[Heimdall Capital @HeimdallCap]

@AMPgrowth @FundamentEdge https://t.co/081kndKb9C

[Heimdall Capital @HeimdallCap]

The @SpaceX IPO narrative is far bigger than rockets.

The S-1 frames a much broader thesis: a leading launch platform, Starlink cash generation, AI infrastructure, orbital compute, and deep vertical integration. This creates a rare multi-platform growth story, but also a difficult underwriting question: how much should investors pay today for multiple platforms that still require massive capex, near-flawless execution, and long-dated monetization?

The highlights below unpack what we know today about the @SpaceX IPO beyond the surface-level growth story 🧵

Download the full report for free at https://t.co/9m9ZAiYmW5.

#SpaceX #IPO #PublicMarkets #Starship #CapitalMarkets #AIInfrastructure #Starlink #Grok #xAI

[Heimdall Capital @HeimdallCap]

@bogledami @FundamentEdge https://t.co/081kndKb9C

[Heimdall Capital @HeimdallCap]

The @SpaceX IPO narrative is far bigger than rockets.

The S-1 frames a much broader thesis: a leading launch platform, Starlink cash generation, AI infrastructure, orbital compute, and deep vertical integration. This creates a rare multi-platform growth story, but also a difficult underwriting question: how much should investors pay today for multiple platforms that still require massive capex, near-flawless execution, and long-dated monetization?

The highlights below unpack what we know today about the @SpaceX IPO beyond the surface-level growth story 🧵

Download the full report for free at https://t.co/9m9ZAiYmW5.

#SpaceX #IPO #PublicMarkets #Starship #CapitalMarkets #AIInfrastructure #Starlink #Grok #xAI

[Heimdall Capital @HeimdallCap]

@ceprdc @DeanBaker13 https://t.co/DBVTIend6x

[Heimdall Capital @HeimdallCap]

The @SpaceX IPO narrative is far bigger than rockets.

The S-1 frames a much broader thesis: a leading launch platform, Starlink cash generation, AI infrastructure, orbital compute, and deep vertical integration. This creates a rare multi-platform growth story, but also a difficult underwriting question: how much should investors pay today for multiple platforms that still require massive capex, near-flawless execution, and long-dated monetization?

The highlights below unpack what we know today about the @SpaceX IPO beyond the surface-level growth story 🧵

Download the full report for free at https://t.co/9m9ZAiYmW5.

#SpaceX #IPO #PublicMarkets #Starship #CapitalMarkets #AIInfrastructure #Starlink #Grok #xAI

[Heimdall Capital @HeimdallCap]

@FinanceLancelot https://t.co/DBVTIend6x

[Heimdall Capital @HeimdallCap]

The @SpaceX IPO narrative is far bigger than rockets.

The S-1 frames a much broader thesis: a leading launch platform, Starlink cash generation, AI infrastructure, orbital compute, and deep vertical integration. This creates a rare multi-platform growth story, but also a difficult underwriting question: how much should investors pay today for multiple platforms that still require massive capex, near-flawless execution, and long-dated monetization?

The highlights below unpack what we know today about the @SpaceX IPO beyond the surface-level growth story 🧵

Download the full report for free at https://t.co/9m9ZAiYmW5.

#SpaceX #IPO #PublicMarkets #Starship #CapitalMarkets #AIInfrastructure #Starlink #Grok #xAI

[Heimdall Capital @HeimdallCap]

@CuriousPejjy https://t.co/DBVTIend6x

[Heimdall Capital @HeimdallCap]

The @SpaceX IPO narrative is far bigger than rockets.

The S-1 frames a much broader thesis: a leading launch platform, Starlink cash generation, AI infrastructure, orbital compute, and deep vertical integration. This creates a rare multi-platform growth story, but also a difficult underwriting question: how much should investors pay today for multiple platforms that still require massive capex, near-flawless execution, and long-dated monetization?

The highlights below unpack what we know today about the @SpaceX IPO beyond the surface-level growth story 🧵

Download the full report for free at https://t.co/9m9ZAiYmW5.

#SpaceX #IPO #PublicMarkets #Starship #CapitalMarkets #AIInfrastructure #Starlink #Grok #xAI

[Heimdall Capital @HeimdallCap]

@jimcramer https://t.co/DBVTIend6x

[Heimdall Capital @HeimdallCap]

The @SpaceX IPO narrative is far bigger than rockets.

The S-1 frames a much broader thesis: a leading launch platform, Starlink cash generation, AI infrastructure, orbital compute, and deep vertical integration. This creates a rare multi-platform growth story, but also a difficult underwriting question: how much should investors pay today for multiple platforms that still require massive capex, near-flawless execution, and long-dated monetization?

The highlights below unpack what we know today about the @SpaceX IPO beyond the surface-level growth story 🧵

Download the full report for free at https://t.co/9m9ZAiYmW5.

#SpaceX #IPO #PublicMarkets #Starship #CapitalMarkets #AIInfrastructure #Starlink #Grok #xAI

[Heimdall Capital @HeimdallCap]

@SawyerMerritt @SpaceX Hey Sawyer, thought you might find this helpful:

https://t.co/DBVTIend6x

[Heimdall Capital @HeimdallCap]

The @SpaceX IPO narrative is far bigger than rockets.

The S-1 frames a much broader thesis: a leading launch platform, Starlink cash generation, AI infrastructure, orbital compute, and deep vertical integration. This creates a rare multi-platform growth story, but also a difficult underwriting question: how much should investors pay today for multiple platforms that still require massive capex, near-flawless execution, and long-dated monetization?

The highlights below unpack what we know today about the @SpaceX IPO beyond the surface-level growth story 🧵

Download the full report for free at https://t.co/9m9ZAiYmW5.

#SpaceX #IPO #PublicMarkets #Starship #CapitalMarkets #AIInfrastructure #Starlink #Grok #xAI

[Heimdall Capital @HeimdallCap]

@BradMunchen Aye mate, thought you might potentially find this helpful:

https://t.co/DBVTIend6x

[Heimdall Capital @HeimdallCap]

The @SpaceX IPO narrative is far bigger than rockets.

The S-1 frames a much broader thesis: a leading launch platform, Starlink cash generation, AI infrastructure, orbital compute, and deep vertical integration. This creates a rare multi-platform growth story, but also a difficult underwriting question: how much should investors pay today for multiple platforms that still require massive capex, near-flawless execution, and long-dated monetization?

The highlights below unpack what we know today about the @SpaceX IPO beyond the surface-level growth story 🧵

Download the full report for free at https://t.co/9m9ZAiYmW5.

#SpaceX #IPO #PublicMarkets #Starship #CapitalMarkets #AIInfrastructure #Starlink #Grok #xAI

[Heimdall Capital @HeimdallCap]

Download the full report for free at:

https://t.co/n3HLZ85gpZ

[Heimdall Capital @HeimdallCap]

The @SpaceX IPO narrative is far bigger than rockets.

The S-1 frames a much broader thesis: a leading launch platform, Starlink cash generation, AI infrastructure, orbital compute, and deep vertical integration. This creates a rare multi-platform growth story, but also a difficult underwriting question: how much should investors pay today for multiple platforms that still require massive capex, near-flawless execution, and long-dated monetization?

The highlights below unpack what we know today about the @SpaceX IPO beyond the surface-level growth story 🧵

Download the full report for free at https://t.co/9m9ZAiYmW5.

#SpaceX #IPO #PublicMarkets #Starship #CapitalMarkets #AIInfrastructure #Starlink #Grok #xAI

[Heimdall Capital @HeimdallCap]

The valuation asks investors to underwrite massive optionality.

At a ~$1.75T target IPO valuation and ~$18.7B of annual revenue, SpaceX would trade at roughly 94x sales.

The bull case is: launch dominance, Starlink cash generation, AI infrastructure, orbital compute, and massive strategic optionality.

The bear case is equally clear: heavy investment burn, Starship risk, speculative AI monetization, governance complexity, and limited margin of safety at target valuation.

[Heimdall Capital @HeimdallCap]

$SPY $QQQ $FED
Check out our latest video below to learn more about the dollar/collateral shortages, yield curve and much more⬇️

[Jeffrey P. Snider @JeffSnider_EDU]

Nice interview with Jimmy at Heimdall Capital where we get into the nitty gritty on collateral, dollar shortages, the Fed pivot, and, of course, if there really is too many Treasuries.

https://t.co/v9jJObFtXk