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Elon Musk Loses Trillionaire Status as Tesla and SpaceX Valuations Fall
As of June 2026, Elon Musk is no longer a trillionaire after falling valuations at Tesla and SpaceX (SPCX) stock erased billions from his estimated fortune. The sharp decline came as technology stocks faced renewed selling pressure and investors pulled back from high-growth companies. Even after the setback, Musk remains the world’s richest person, showing…
Kospi Slumps as SoftBank Selloff Hits Asian Markets
Asian stock markets came under heavy pressure on June 26, 2026, as a sharp selloff in SoftBank shares triggered fresh concerns across the technology sector. South Korea’s Kospi also fell, with chip giants leading the losses as investors pulled back from AI-related stocks after months of strong gains. The market reaction highlights growing caution over…
Rheinmetall Sinks 16% as Germany Scraps €12.8B F126 Frigate Program
Rheinmetall (ETR: RHM) suffered its worst single-day drop ever on June 24, 2026, falling as much as 16% intraday before stabilizing around –13% by 09:06 GMT. Germany’s defence ministry scrapped the delayed F126 frigate program, eliminating a €12.8 billion contract that Rheinmetall had been set to lead. TKMS shares surged 9.8% in response, marking the…
Rheinmetall (ETR: RHM) Falls 15% After Germany Scraps F126 Frigate Program; TKMS Jumps
Rheinmetall shares came under strong pressure after Germany made a surprise decision to cancel the F126 frigate program. The move triggered a sharp reaction across European defense stocks, with investors reassessing future naval contracts and long-term order visibility. The cancellation also shifted attention toward rival shipbuilder TKMS, which saw a strong upside in trading. The…
Fomo Raises $75 Million at $550 Million Valuation After Processing $4 Billion in Crypto Volume
Fomo closed a $75 million Series B on June 22, 2026, valuing the one-year-old crypto social trading app at $550 million. Index Ventures led the round, joined by Union Square Ventures and existing backer Benchmark. The raise brings Fomo’s total disclosed funding to approximately $94 million, following a $17 million Series A led by Benchmark…
AI Startup Baseten Reaches $13 Billion Valuation After Raising $1.5 Billion in New Funding Round
AI infrastructure startup Baseten has made headlines after raising $1.5 billion in a new funding round that boosted its valuation to $13 billion in June 2026. The deal highlights the growing investor focus on the technology that powers AI applications behind the scenes. As businesses rush to deploy AI tools at scale, companies that help…
Wall Street Rally in Focus as S&P 500 Hits 7,500.58 Ahead of Micron Results and PCE Report
The S&P 500 heads into the week of June 22, 2026, with real momentum and real data risk in equal measure. The S&P 500 closed at 7,500.58 on June 18, 2026, with the next data release date set for June 22. Despite the Fed striking a more hawkish tone last week, US equities posted gains,…
SpaceX Shares Fall More Than 5% Premarket, Extending Post-IPO Pullback After Record Rally
SpaceX shares came under pressure on June 22, 2026, falling more than 5% in premarket trading after an extraordinary post-IPO rally that captured Wall Street’s attention. The stock had surged to record highs in the days following its market debut, pushing the company’s valuation to unprecedented levels. Now, investors are weighing whether the recent decline…
EasyJet (LON: EZJ) Stock Rises 2.74% After Rejecting £4.7 Billion Acquisition Offer
easyJet shares surged on June 22, 2026, climbing 2.74% as the airline went public with a dramatic takeover standoff. Minneapolis-based asset manager Castlelake made a first cash bid for easyJet of 560 pence per share on June 12. It followed by a second offer of 600p on June 17. A third proposal of 625p per…