🚀 Friday is a day markets will talk about for decades.

SpaceX — the company that made reusable rockets real, put 10 million homes online via satellite, and became the most anticipated listing in market history — officially started trading this morning on the Nasdaq under the ticker SPCX. IPO price: $135. Current price: $160.

🇨🇦 Meanwhile, two days ago the Bank of Canada delivered its most sobering statement yet — and quietly confirmed something most Canadians have been feeling for months.

☕ Two enormous stories. Let's get into it.

🚀 Let's go!

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What's Happening: 🚀 SpaceX set a fixed IPO price of $135 per share, targeting a June 12, 2026 Nasdaq debut under the ticker SPCX. The deal values Elon Musk's rocket, Starlink, and xAI group at roughly $1.75 trillion and aims to raise about $75 billion — the largest IPO on record.

To put that in perspective:

Why it matters: 💡 This IPO reshapes the investing landscape in three ways. First, SpaceX will be fast-tracked for inclusion in major indices like the S&P 500 and Nasdaq-100 — meaning if you hold VFV.TO or QQQ, you will soon automatically own a piece of SpaceX. Second, Starlink — the satellite internet unit — posted a $1.19 billion operating profit in Q1 2026 and now serves about 10.3 million subscribers, making it the group's profit engine. Third, this opens the space economy as an investable sector for the first time at scale.

The Takeaway: 🧠 The $1.75 trillion valuation implies roughly 109 to 116 times SpaceX's 2025 trailing revenue — a multiple normally reserved for early-stage software, not a capital-intensive launch business. The hype is real. But so is the risk. See this week's Stock Watchlist for the full honest breakdown. 👇

What's Happening: 🏦 The Bank of Canada held its key interest rate at 2.25% on June 10 — a fifth consecutive hold — as Governor Tiff Macklem sought to balance inflation threats from high oil prices against economic sluggishness brought on by the U.S. trade war.

But the bigger story was buried in the data:

Why it matters: 💡 RBC expects the Bank of Canada to remain on hold for the rest of 2026 before hiking modestly in 2027. CIBC described the June 10 statement as highlighting a "very patient central bank with plenty of time to wait and see." For mortgage holders: prime rate stays at 4.45% — no change. For savers: GICs and high-yield savings remain attractive.

The Move: 📅 The next scheduled date for a rate announcement is July 15, 2026 — which also includes the Bank's full Monetary Policy Report. That MPR will be the most important document of the year — updating the BoC's full GDP and inflation forecasts with fresh data. Mark it on your calendar.

The Update 📈

🚀 SPCX opened at $135 this morning and is currently trading around $160 — up 18.5% from the IPO price on day one. Here is what you are actually buying:

Why I'm Interested 🤔

⚙️ SpaceX has achieved something no other aerospace company has: it designs, manufactures, and launches advanced rockets and spacecraft — and operates the Starlink satellite constellation — making it the only vertically integrated space-to-internet company on earth. Starlink's subscriber growth (10M+ and accelerating) gives it a recurring revenue moat that pure launch companies cannot match.

⚠️ The honest risk — and it is significant: The $1.75 trillion IPO valuation implies 109 to 116 times SpaceX's 2025 trailing revenue — a multiple normally reserved for early-stage software, not a capital-intensive launch business. At $160/share today, that multiple has expanded further. The stock is priced for absolute perfection.

The Bull Case 🟢 vs Bear Case 🔴

Morningstar Rating: Not yet rated (IPO day — initiations expected within 30–90 days)

52-Week Low/High (Nasdaq): $135.00 (IPO price, today) — $176.52 (Friday's intraday high)

Recent Catalyst: 🔥 World's largest IPO at $75B raised. Starlink Q1 2026 operating profit of $1.19B. Nasdaq debut June 12, 2026. Expected fast-tracking for S&P 500 and Nasdaq-100 inclusion.

Disclaimer: This is for informational purposes only and not investment advice. Always do your own research or consult a professional before making investment decisions.

😮 SpaceX just went public today. But what does "going public" actually mean? And how does the IPO process work from the inside?

What is an IPO? 📋

💡 An IPO — Initial Public Offering — is the first time a private company sells shares to the general public on a stock exchange. Before the IPO, only private investors (venture capital firms, employees, and wealthy insiders) can own the company. After the IPO, anyone with a brokerage account can buy a piece of it.

The IPO process — step by step 🗺️

📝 Step 1 — File an S-1: The company files a document with the SEC disclosing its financials, risks, and business model. SpaceX filed its S-1 on May 20, 2026

🏦 Step 2 — Hire banks: Investment banks (Morgan Stanley, Goldman Sachs, etc.) are hired to manage the process and find institutional buyers

🌍 Step 3 — Roadshow: Company executives travel the world pitching to large institutional investors (pension funds, mutual funds). SpaceX's roadshow began June 4

💲 Step 4 — Set the price: Based on investor demand, the banks set the final IPO price. SpaceX priced at $135

📈 Step 5 — First trade: The stock starts trading publicly. SPCX opened this morning — and retail investors could buy for the first time

Should you buy on IPO day? ⚠️

📊 The data says: be cautious. Studies show that:

🔴 The average IPO underperforms the market by ~3–5% in its first year

🔴 First-day buyers often pay a premium for the excitement — not the fundamentals

🟢 Exception: World-changing companies (Amazon, Google) that continue executing at extraordinary levels rewarded patient investors who bought at any price

⏰ The smarter move for most investors: wait 3–6 months for the lock-up period to expire, the hype to settle, and the first earnings report to land. Then evaluate with real data

The Lock-Up Period 🔒

After an IPO, company insiders and early investors are typically restricted from selling their shares for 90–180 days. When that lock-up expires, a flood of selling can push the price lower. For SpaceX, watch for the lock-up expiry date in the prospectus — that date matters.

The Move ✅

📱 Open your investing account TFSA, RRSP, FHSA or RESP at Questrade (use referral Key 426019605447668 to get a $50 bonus) or Wealthsimple. (Use code, OFZZHW to receive $25 bonus) commission-free. Start with as little as $50/month on a pre-authorized contribution plan and let it grow automatically. You don't need to watch the market. You don't need to pick stocks. You just need to start.

😤 The excitement is completely understandable. This is SpaceX. Reusable rockets. Starlink. Elon Musk. The biggest IPO in history. Of course you want in.

🧠 Here is the honest, data-driven framework:

🎯 The framework for deciding:

💡 Our suggestion: Put SpaceX on your watchlist. Read their first earnings report (expected September 2026). See how Starlink subscriber growth is trending. Then decide with data — not headlines.

🤝 Wealth Compass is for everyone new to money and investing — the SpaceX IPO is a perfect reminder that the most important skill in investing is not picking the hottest stock. It is having a process.

💬 Need Personalized Guidance? For those deeper, one-on-one questions about your specific situation (Setting up TFSAs, RRSPs, FHSA, RESP, credit cards, stocks/ETFs picking or anything else!), I offer personalized coaching sessions. Learn more and book your spot! 💬

See you next week!

Warmly,
Yudara Bernard
Founder, Newcomer Wealth