Happy Thursday! Today, we’re discussing the hidden risk Jim Chanos uncovered in Wall Street’s bullish SpaceX story. Here’s what you need to know as shares hit a 52-week-low.

Nvidia’s recent pullback has sparked a surprising valuation argument from Wall Street, with one analyst saying the AI giant may now be the best value among the Magnificent Seven. Find out why investors may be overlooking Nvidia’s biggest advantage.

Michael Burry is back with another bold market call that caught Wall Street off guard. The legendary investor is making a new bet and sounding the alarm on a growing trend. Read on for all the details and see which stocks are in his latest portfolio.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

• SPECIAL OFFER

BENZINGA TRIVIA CHALLENGE

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Jim Chanos Highlights Morgan Stanley's $672 Billion Funding Warning On Elon Musk's SpaceX

Morgan Stanley may be bullish on SpaceX, but a surprising warning buried in its own report has veteran investor and short seller Jim Chanos calling it out.

The overlooked detail raises major questions about SpaceX’s path forward. The warning comes as shares recently hit a 52-week low yesterday, putting renewed focus on the company’s ambitious plans and massive funding needs.

Michael Burry Says The Bubble Is About To Pop

Semiconductor stocks are the best-performing sector in the market this year. AMD is up over 150%. Micron's market cap just passed $1 trillion. Global chip sales are on track to hit $1.5 trillion in 2026, nearly double last year's total.

But Michael Burry, the investor who predicted the 2008 crash, is actively shorting several names, including Nvidia and the SOXX semiconductor ETF, warning that this rally mirrors the final months of the dot-com bubble.

In this video, we break down both sides of the argument. And with earnings around the corner, guidance will validate or expose the semiconductor rally.

Yesterday: U.S. indexes finished mixed Tuesday as rising geopolitical tensions between the U.S. and Iran weighed on investor sentiment, pushing oil prices higher and pressuring the Dow and S&P 500. President Trump declared the ceasefire with Iran over, raising concerns about renewed conflict and disrupting hopes for continued peace talks. Despite the broader weakness, the Nasdaq edged higher, supported by gains in Nvidia and other semiconductor stocks. While many high-flying tech names have recently pulled back, expectations for the sector remain strong, with analysts forecasting tech to deliver the fastest revenue growth and the second-highest earnings growth of all 11 S&P 500 sectors in the second quarter.

On Our Radar: Looking ahead, Wall Street will be watching initial jobless claims and existing home sales data, as well as remarks from Fed speakers (John Williams, Lorie Logan) for clues on the economy and interest rate outlook. On the earnings front, all eyes will be on Delta Air Lines (DAL) which will report before the market opens on Friday.

Top Gainers: Nvidia (NVDA), Super Micro (SMCI), SanDisk (SNDK), Broadcom (AVGO), Akamai (AKAM), Nebius (NBIS), CoreWeave (CRWV)

Top Laggards: American Express (AXP), Sherwin-Williams (SHW), Palo Alto (PANW), Booking Holdings (BKNG), Airbnb (ABNB), Strategy (MSTR) Bloom (BE)

Here's a look at some of the biggest winners and losers from Wednesday's session.

See how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.

Chip Champion: Nvidia has dominated the AI spotlight, but Samsung just delivered a result that puts it ahead of the chip giant on a key metric. Read on to discover why Wall Street thinks Samsung’s rally may have more room to run.

Next Trillion: Wall Street legend Bill Ackman just revealed where he believes the next trillion-dollar company could emerge — and it’s not where most investors are looking. Discover why he’s betting big on this unexpected tech powerhouse.

Memory War: The memory market’s biggest players could be facing an unexpected new challenge as a new monster IPO — the third biggest in history — is set to debut. Find out why Wall Street is watching Micron and SanDisk closely, and what it could mean for future profits.

Short Report: Bloom Energy is the latest company caught in the crosshairs of a major short report. Read on to see the claims behind a report that has Wall Street taking notice.

Stock Of The Day: Shares of Rivian just suffered a major setback, but a key level could determine whether the selloff continues or reverses. See what traders are watching and where shares could be headed next.

See How Congress Is Trading The Market

Benzinga Edge’s Government Trade Tracker lets you monitor stock trades filed by U.S. lawmakers under the STOCK Act. See over 440 active trades across 185 members of Congress, with average performance tracking near +16.9%.

Over the past 12 months alone, lawmakers have pulled more than $91 million out of the market — revealing themes retail investors often miss.

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