Snapshot · My First Million
Dalio recounted that when Elon Musk started Tesla and SpaceX, he had made roughly $180 million from PayPal and chose to invest half of it in his mission to go to Mars.
The Nasdaq posted the biggest gain of the major indices on the day, driven largely by a semiconductor stock rally.
Micron, SanDisk, and Western Digital each rallied as much as 14.3%, driving the semiconductor-led Nasdaq surge.
Nvidia closed 2% higher as investors rotated back into the AI trade ahead of major big tech earnings.
Oracle's stock is trading just above its 52-week low as investors weigh the $7B collateral obligation alongside broader balance sheet concerns.
The Russell small-cap index gained 1.5% on the day, second only to the Nasdaq among major indices.
The S&P 500 rose 0.9% and the Dow added 0.7%, both lagging the Nasdaq and Russell on the day.
SpaceX will report its first post-IPO earnings on August 4th, triggering its unique insider lockup expiration mechanism.
Insiders can sell 20% of their eligible locked-up stock — totaling up to 911.5 million shares — on August 6th, the second full trading day post-earnings.
An additional 10% of locked-up shares could be freed if SpaceX closes at least 30% above IPO price for 5 of the 10 trading days heading into the report.
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