SpaceX started trading today. Everyone's covering the pop, the trillion-eight valuation, the trillionaire watch. The number that matters: they reserved 20-30% for retail investors. Normal is 5-10. And they walked away from $175B in demand to do it. The biggest IPO in history wasn't a fundraise. Day 297:

I was an $RKLB investor and sold after experiencing a near 2000% rise and making a lot of money, and right now the only publicly traded space company I see as most attractive and undervalued is $FLY. I have respect for $RKLB investors, but I don't understand the fanatical idiots. After listening to the dialogue below, fanatical idiots who hold stocks like supporting a football team in the stock market started to insult disrespectfully. Interviewer: "So I want to talk about Rocket Lab for a second, right? It's the obvious comp. It's the one that, you know, for the most part, investors are constantly looking at. And right now, just looking at the valuation data, Firefly trades at around 13 times next 12-month sales; Rocket Lab is trading around 70, 73 times. What's the part of the Firefly thesis that you believe the market hasn't priced in yet? Right now, you've mentioned all these different things that you guys are doing. There's a wide valuation gap between Firefly and Rocket Lab. Like, what do you think the market isn't pricing in yet?" Jason Kim (CEO): "I think Rocket Lab is a fair comp for the hardware and launch side, but we're more than that: we're a mission company. And so, not only are we launching, landing, operating, but we've got all the AI software and the applications that we're developing that gets deployed to the ground servers as well as edge processing on orbit. And so, when you talk about those kind of services, now you're talking about the Andurils of the world, and the Palantirs of the world, and maybe even xAI of the world. We have the end-to-end ecosystem to make those missions possible, and that's what gets me excited because I'm not just a hardware CEO or a software CEO—I'm a mission CEO. And with the missions, you can do a lot of new categories where no other company has gone before." This is not financial advice. x.com/itsmoislam/status/2062…

Market cap for $FLY doesn't even make sense with a 1.5bn backlog

I will continue to buy shares of $FLY at every market downturn. The fundamentals are there.

Sidoti initiated research coverage with a price target of $10.00 Sidoti's report highlights Forum's position as an early mover in the tokenization of institutional-grade real-world assets, operating at the intersection of traditional financial markets and blockchain-based infrastructure. Key investment highlights include: 1. Forum's live capital deployment across aerospace equipment financing, manufactured home loans, auto credit, and AI data infrastructure bridge lending 2. A vertically integrated origination-through-distribution model supported by equity stakes in Karus, Zippy, and Liquidity.io parent Satschel, Inc. 3. An active share repurchase program with approximately $25 million in buybacks through the second quarter of 2026 The report also notes that Forum shares trade at approximately 0.5x Sidoti's net asset value estimate of $10.00 per share. A copy of the Sidoti & Company research report is available through Sidoti's distribution channels or visit sidoti.com.