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Saturday, November 7, 2026

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@aleabitoreddit

Serenity on X

The two things I'm excited about are Gen G vs. T1... and new NASA's $10 Billion contract to begin settling on the moon. NASA selected: - $SPCX (SpaceX) - Blue Origin - $FLY (Firefly) - $LUNR (Lunar) - $LMT (Lockheed Martin Space) - $NOC (Northrop Grumman Space) - $VOYG (Voyager) - iSpace US to compete for future lunar delivery missions - $1.3B in launch and orbital transportation orders awarded to Arrow Science, Blue Origin, and Impulse Space. - $94 million for Blue Origin to deliver NASA's nuclear powered PROMISE rover - Existing CLPS 1 contract ceiling raised from $2.6B to $4.2B. - NASA also announced awards to Honeybee Robotics, a Blue Origin company, $RDW for a lunar power and communications tower
@leevalueroach

Lee Roach on X

Any rational person should lever themselves up until infinity on 0% convertible debt when rates are pushing 6%. You would be irrational to not do that. Especially if you are any good at capital allocation. How do you think $GME got $5bn of cash on the balance sheet and 10% of eBay. Oh and they made over $1bn in mark to market returns on eBay so far. And 6% on the remaining $5bn is $300 million of interest income per year. All for a zero percent convert that is still out of the money. One of the best capital allocation moves I’ve ever seen on Wall Street.
@aleabitoreddit

Serenity on X

So two things: 1. I'm now fundamentally positive on $IREN post Mirantis acquisition and after their recent earnings. Their operating outlook and ability to finance has looked more compelling. 2. That doesn't always translate to appreciating share price and ROI to shareholders. I have caution regarding their existing $6B ATM, which now has $2.37B left (so they have been going through it). As well as CEO executive compensation, which I'd argue would be more beneficial if this were done through appreciating share prices rather than dilution. Obviously optics on their NBA Warriors deals are very bad while they're unprofitable... but I'd treat this as noise relative to the scale of the ATM overhang + executive comp. So a lot of weighing different float + market dynamics vs. operational business, but I'd argue this is something that still can be addressed.

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NINE · long

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