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💵 Today’s Top Stories
It’s a “lousy time” to buy your first home in most of America, Clark contends. The silver lining: this trend is now your friend. Here’s how long you should wait. Read more.
Are you tired of constant price hikes, but Verizon’s coverage works well for you? Find out how you can get Verizon’s comprehensive cell service for as little as $10 a month. Read more.
Want a membership at an average gym? That’ll be more than $1,200 per year. Surprise: You don’t have to pay for a fancy health club. Here’s how to get fit for cheap. Read more.
One of the top “low annual fee” travel credit cards is offering a limited-time welcome bonus equal to $1,000 in statement credits. Here’s how much you need to spend in the first three months. Read more.
🚀 Musk, SpaceX Make IPO Headlines, But Be Careful Investing
Elon Musk became the world’s first trillionaire on paper Friday when the SpaceX IPO reached a market cap of $2.1 trillion.
It made the rocket-making business the sixth-most valuable public company in the United States by market cap.
Shares ended Friday up 19%, finishing at $160.95 – well above the initial IPO price of $135 per share.
Musk’s ownership stake was valued at nearly $700 billion at the IPO price, while his Tesla stake equated to a bit more than $275 billion.
The Nasdaq trading debut was thought to make millionaires out of more than 4,000 current and former SpaceX employees. That includes welders, machinists and cafeteria cooks.
(One former welder joined the company in 2015 and earns $28 an hour. But his shares were worth $880,000 at IPO prices.)
Goldman Sachs and Morgan Stanley took a combined 40% of the IPO fees, or about $100 million each.
Lost in the otherworldly swirl of stats: IPOs are back in a major way after a multi-year lull. OpenAI and Anthropic are planning IPOs of their own, among others (Strava, for example).
Regardless of the economic headwinds (continued inflation and the conflict in Iran, for example), there are strong signs in parts of the U.S. economy.
As a reminder, Clark does not recommend investing in individual stocks. So be careful chasing the opportunity to invest in potentially volatile, headline-grabbing IPOs of these mega companies.
But it’s a reminder that the U.S. continues to lead when it comes to innovation and technology.
📊 Stat of the Day
💸 $45,000: The windfall some homeowners near World Cup venues hope to make by turning their homes into short-term rental properties at least temporarily.
💰 Deal Alert: Today’s Top Deals
🎙 Podcast
A hidden shift is happening in the skies right now, as airlines quietly slash schedules and strip away basic comforts you’ve taken for granted for decades. If you don't check your bookings immediately, you could be walking blindly into a canceled itinerary—or worse, a "bare-bones" cabin with zero food or water. Worst of all, a strange new industry experiment means that ticket you bought for a connecting flight might not take off at all, leaving you stranded on a highway instead of a runway. Shifting to the housing market, if you are looking to purchase your first home, Clark has a strict warning for you: wait. It is a historically bad time to buy your first house in most of America, and doing so right now is essentially stepping into a financial trap.
☎ Need Money Help?
The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.
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