Alternative Investing Report - June 15, 2026

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*as of 6/14, Sources: S&P, BTC, FTSE, DJRE, GOLD

The long anticipated history-making SpaceX IPO came last Friday, with the company raising $75 billion at a $1.77 trillion valuation. The IPO share price was $135, trading opened at $150 per share, and closed at just above $160 per share, representing a 19% gain and a $2.1 trillion market cap. Around 20% of the IPO allocation went to retail investors, who still only got a fraction of the shares requested, reflecting the tremendous demand for the company. While the day was a success for Pre-IPO investors, employees, and those investors who bought in at the IPO, the biggest winner was founder Elon Musk, who is now the world’s first trillionaire on paper.

➨ TAKEAWAY: The first day results for the biggest IPO in history were a great sign for the markets, both public and private. There was obviously still significant demand for SpaceX shares despite all of the Pre-IPO activity, and there is plenty of retail capital that went unsatisfied that may boost the share price in the short-term. It also is an encouraging sign for OpenAI and Anthropic, the next two anticipated mega-IPOs, as there is likely to be plenty of retail interest left over for them.

SpaceX is going public this week, and in the latest episode of Smart Humans, Vincent's Slava Rubin is joined by Sacra's Jan-Erik Asplund for an in-depth analysis of the biggest IPO of all-time. They look into SpaceX's business segments, valuation, market potential, and everything else investors need to know before making an investment decision.

📊 Wholesale prices surge: After the consumer price index showed inflation hitting a 3 year-high last week, the producer price index (PPI) showed whole prices rising by 1.1% in May and a whopping 6.5% annually, the highest level in nearly four years. This was almost entirely due to a 23.4% jump in gas prices, as the core PPI, which excludes food and energy costs, was only up 0.4% monthly. The silver lining is that if the Iran war is resolved, leading to lower oil and gas prices, inflation could return to its lower pre-war level.

📉 ECB raises interest rates: The ongoing inflation has led the European Central Bank to hike interest rates by a quarter-point, making it the first major central bank to raise rates since 2023. It is expected to be just the first hike of three, and while their rates remain lower than the U.S. Federal Reserve rates, it is a worrying sign for those wanting a low interest rate environment.

🏡 Hottest housing markets: Hartford, CT is now the #1 hottest housing market in the country, based the number of views on properties in the area and median days on the market. All of the top 20 markets are in the Northeast or Midwest, as buyers seek affordable options near to major cities like New York, Boston, and Chicago. New York posted the biggest improvement in the rankings among major U.S. metros.

🪙 Citigroup offering tokenized shares: The Wall Street bank launched a service for its high-net-worth and institutional clients to trade tokenized shares of large, late-stage private companies. Initially, the service is only open to foreign investors and the companies available have not been released, but expect other banks and platforms to follow suit.

🏢 Retail leading gains: Green Street’s all-property CRE price index was up 1.6% in May, led by the retail sector, which has seen gains primarily in strip retail, malls, and specialty consumer-facing stores.

🎨 $5.7 million Giacometti: “Promenade des Amis,” a table designed by Diego Giacometti (younger brother of the more prominent Alberto) sold for $5.7 million at Sotheby’s, above the high estimate, and the second major recent sale of one of his tables - his “Hommage à Böcklin” sold for $4.47 million at Christie’s last month.

Today: The G7 Summit begins in France.

Tuesday: Housing starts and building permits reports released.

Wednesday: The Fed announces its interest rate decision, U.S. retail sales and pending home sales reports released; homebuilder confidence index.

Thursday: Golfers will tee off at the U.S. Open at Shinnecock Hills Golf Club on Long Island.

Friday: Juneteenth holiday - markets will be closed.

Saturday: Goldin’s June Vintage Elite auction, featuring a Mickey Mantle card that’s already been bid up to $1.34 million.

Sunday: Father’s Day - get something nice for Dad! It’s also the Summer Solstice, meaning it will be the longest day of the year.