"HUGE News From The Fed!" - If You Own GOLD or SILVER, WATCH THIS NOW (Peter Schiff Warning)

Market Downturn and AI Bubble Concerns [timestamp]

• Major stock markets finished the week lower, with AI-related names being the biggest losers.
• SpaceX, a previously discussed stock, was down about 5.5% on the day and 13.25% on the week, closing below its IPO price.
• The decline suggests a cooling of speculative froth in the market.

  The air may be coming out of the AI bubble, and we certainly got some more indication this week that that was, in fact, the case, because the major stock markets all finished the week lower, led lower by AI-related names.

SpaceX Valuation and Share Structure [timestamp]

• SpaceX's stock closed just below $1.24, down from its IPO price of $1.35 and significantly down from its peak of over $2.25.
• Concerns about its valuation, trading at over 100 times revenues while losing money, are highlighted.
• The company has a small tradable float of about 5%, with a large portion of shares locked up until 2027.

  Between now and the end of the year, a lot of other employee-owned early investor shares become free trading.

Increasing Share Supply and Short Interest [timestamp]

• By year-end, the tradable supply of SpaceX shares will increase eight-fold, from 5% to 40% of the total company.
• This significant increase in supply is expected to create considerable overhang.
• Short interest in SpaceX is reportedly exploding, with some shorts potentially being locked-up shareholders hedging their positions.

  So you have about 5% of the total company tradable.

Shifting Market Sentiment [timestamp]

• The sentiment around SpaceX appears to be turning, with a decrease in confidence to wait out the lockup period.
• Hype built into SpaceX was related to AI and XAI, and this sentiment is now seen across the sector.
• The speaker refers to a previous podcast discussing the unsustainable capex and spending of hyperscalers.

  So the sentiment is turning.

Broader Market Performance [timestamp]

• The Dow was down about 1.2% for the week, closing at 52,146.
• The S&P 500 was down 1.35% due to tech exposure.
• The NASDAQ was the biggest loser, down 2.2%, while the Russell 2000 held up best, down only 0.35%.

  And the S&P down a little bit more because of the tech exposure, down 1.35%.

Netflix Decline and Consumer Spending [timestamp]

• Netflix was down about 7.5% on the day and 8% on the week, with its earnings disappointing.
• The decline is linked to Americans being strapped and unable to afford rising costs of streaming services.
• Like SpaceX, Netflix is down 45% from its high, indicating a loss of momentum.

  Its earnings are disappointed.

Gold and Silver Performance [timestamp]

• Gold and silver prices were also down on the week.
• Gold closed at $4,017.30, finishing the week with a gain of just over $40 for the day, but had traded below $4,000 earlier.
• Silver fared worse, down 4% for the week, closing at $55.83, which is noted as a low weekly close.

  Silver fared much worse, down 4% on the week.

Mining Stocks Performance [timestamp]

• Mining stocks performed similarly or worse than silver.
• The GDX was down 3.9%, and the GDXJ was down almost 5% (4.8%).
• The speaker suggests the markets have misunderstood the situation.

  Once again, the markets have got this wrong.