The Week Ahead: May 25, 2026
What a week we’ve had and are about to have, four days that it is! The hugely consequential IPO filing for SpaceX will continue to suck the oxygen out of the room — how could it be any other way? We’re preparing a massive IPO report, more on that next week.
We’ll also see some big earnings from Marvell (MRVL:NASDAQ) and Salesforce (CRM:NYSE). Much to analyze there.
You can find prior notes and the full research archive at our NEW website: https://epistrophy.beehiiv.com.
As always, I’m focused on three things:
1) Technology-driven change;
2) the latest in innovation and startup trends, and;
3) stock fraud.
Companies Discussed
Ticker | Name | Market Cap ($B) | Price |
|---|---|---|---|
SPCX | SpaceX | $1,750.00 B | ? |
GS | Goldman Sachs Group | $294.04 B | $996.73 |
ABNB | Airbnb | $78.55 B | $132.35 |
RKLB | Rocket Lab | $78.59 B | $135.76 |
PLTR | Palantir Technologies | $328.14 B | $136.88 |
SNOW | Snowflake | $59.69 B | $172.20 |
PLTR | Palantir Technologies | $328.14 B | $136.88 |
CBRS | Cerebras Systems | $56.39 B | $256.78 |
AMZN | $2,864.83 B | $266.32 | |
SPOT | Spotify Technology SA | $109.04 B | $519.86 |
NDAQ | Nasdaq | $51.47 B | $91.01 |
In This Note:

New Rule: Every IPO’s Risk Factors section should picture an explosion.
Source: My kitchen table at May 20, 2026, 11 pm
Six Things SpaceX's S-1 Doesn't Say — and Should.
The biggest IPO of all time is shockingly light on basic financial details
SpaceX (SPCX: NASDAQ) S-1 document is a sight to behold: 422 pages in total. The numbers seem to say alot: SpaceX launched 2,213 metric tons to orbit last year across 150 Falcon 9 flights. Its 9,600-satellite Starlink constellation, now serving 10.3 million subscribers across 164 countries, accounts for roughly 75% of every active maneuverable satellite currently in orbit. xAI’s COLOSSUS and COLOSSUS II data centers (”the world's first coherent gigawatt-scale AI training cluster”) cost of $12.7 billion in 2025 alone, or roughly $28 million every single day. Twenty-one investment banks, led by Goldman Sachs (GS: NYSE), have signed on on to shill the stock.
Tweet O’ The Week
Epistrophy In The News
As soon as the SpaceX S-1 filing hit the tape, NewsNation had me on to review the numbers and discuss the importance of this offering to a national audience. Always a good conversation with Connell McShane.
📆 of Epistrophy Events
Ticker | Name | Market Cap | Expected Date | Type |
|---|---|---|---|---|
🎉 | Memorial Day | May 25 | Market Holiday | |
ZS | Zscaler | $29 B | May 26 | Earnings |
MRVL | Marvell Technology | $172 B | May 27 | Earnings |
CRM | Salesforce | $147 B | May 27 | Earnings |
SNPS | Synopsys | $101 B | May 27 | Earnings |
SNOW | Snowflake | $60 B | May 27 | Earnings |
NTAP | NetApp | $27 B | May 27 | Earnings |
NRS | New Residential Sales | May 27 | Economic Event | |
ADSK | Autodesk | $51 B | May 28 | Earnings |
OKTA | Okta | $16 B | May 28 | Earnings |
MDB | Mongodb | $26 B | May 28 | Earnings |
DG_ADV | Durable Goods Orders (Advance) | May 28 | Economic Event | |
PCE | Personal Income & Outlays (incl. PCE) | May 28 | Economic Event | |
GDP | GDP Second Q1 2026 | May 28 | Economic Event | |
CSCO | Cisco Live | $475 B | May 31 | Conference |
CSP | Construction Spending | Jun 1 | Economic Event | |
SNOW | Snowflake Summit 2026 | Jun 1 | Conference | |
PANW | Palo Alto Networks | $211 B | Jun 2 | Earnings |
MSFT | Microsoft Build | $3,109 B | Jun 2 | Conference |
DG_FULL | Factory Orders (M3 Full Report) | Jun 3 | Economic Event | |
EMPSIT | Employment Situation | Jun 5 | Economic Event | |
ZS | Zenith Live | $29 B | Jun 8 | Conference |
DDOG | DASH | $79 B | Jun 9 | Conference |
PPI | Producer Price Index | Jun 11 | Economic Event | |
CPI | Consumer Price Index | Jun 12 | Economic Event | |
SPCX | IPO? | $1,750 B | Jun 12 | IPO |
Availability This Week
I’ll be in our San Francisco office at the Ferry Building all week. Call or, hell, come visit!
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