After SpaceX filed its $2 trillion IPO – the largest market debut in history, with every major bank on Wall Street underwriting the deal – you can’t escape the headlines.
But buried inside SpaceX’s SEC filing is a number almost nobody is talking about…
Last quarter alone, SpaceX lost $4.28 billion.
Not because the business is struggling, because they're spending money as fast as they can on one thing… AI infrastructure.
The chips, the data centers, the computing systems required to run 7,000 satellites autonomously, power Tesla’s self-driving network, and build the next generation of artificial intelligence.
SpaceX is hemorrhaging billions trying to build the foundation its own ambitions require.
And they’re not alone.
Amazon, Google, Meta, and Microsoft have committed $700 billion this year alone to build exactly that same foundation.
All of it flowing through dozens of small technology companies that most Americans have never heard of.
The ones supplying what SpaceX, Tesla, and every other tech company on earth needs to function.
Everyone will chase the SpaceX IPO.
But the largest debut in stock market history doesn’t happen without the companies building the foundation underneath it.
Those companies are still trading for just a few dollars.
See the details here.
Chris Rowe
Mirum Pharma: A Rare Disease Growth Story to Watch
By Chris Markoch. Article Posted: 5/20/2026.
Key Points
- Mirum Pharmaceuticals posted strong revenue growth as its lead drug Livmarli continues gaining momentum.
- The company’s growing pipeline and commercial infrastructure could create multiple long-term growth opportunities.
- MIRM stock pulled back after earnings due to higher expenses and a convertible note offering, but analysts still see significant upside.
- Special Report: Elon Musk already made me a “wealthy man”
Mirum Pharmaceuticals (NASDAQ: MIRM) is a late-stage biotechnology company making meaningful progress toward its mission of fighting rare diseases with limited or no treatment options. Mirum recently reported its Q1 2026 earnings, highlighted by 43% year-over-year (YOY) revenue growth.
In 2025, the company generated revenue of $521.3 million, up 54%, with its lead drug, Livmarli, accounting for $360 million, a 69% YOY increase. Mirum also has two other FDA-approved therapies—Cholbam for bile-acid synthesis disorders and Ctexli for cerebrotendinous xanthomatosis, a rare genetic bile acid metabolism disorder.
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When the SpaceX IPO launches, most retail investors will be locked out. The banks, funds, and insiders get in early - while everyone else waits on the sidelines.
But one small infrastructure supplier - a critical piece Musk can't scale the Colossus network without - is still trading well under institutional radar. A new briefing reveals the name and ticker at no cost.
Get the SpaceX infrastructure stock name and ticker hereThe company also raised its full-year revenue guidance to a range of $660 million to $680 million. At the midpoint, that would represent a YOY increase of 26%. However, since the earnings report, MIRM has fallen about 12% despite bullish analyst sentiment.
What Makes Mirum a Compelling Speculative Play?
Mirum's commercial story is unusual for a company that is not profitable: it already has three FDA-approved drugs generating real, growing revenue. As noted above, Livmarli remains the primary growth engine, with Q1 2026 net product sales of $159.9 million representing strong sequential momentum.
Livmarli is currently in a late-stage trial that could expand the drug’s label to include Alagille Syndrome. Topline Phase 3 data is scheduled for December.
Cholbam and Ctexli provide a revenue floor that single-asset biotechs do not have.
The pipeline adds additional future revenue opportunities:
Volixibat is in late-stage development for primary sclerosing cholangitis (PSC) and primary biliary cholangitis (PBC), two conditions with significant unmet need and sizable patient populations.
Brelovitug targets chronic hepatitis delta, and zilurgisertib is already under FDA regulatory review for fibrodysplasia ossificans progressiva, a debilitating and currently untreatable rare bone disease.
Any one of these approvals could meaningfully expand the company's addressable market. Right now, Volixibat is the furthest along. On May 4, 2026, Mirum reported that the primary endpoint was met in the VISTAS Phase 2b study.
There is also a commercial infrastructure advantage. Mirum has spent years building relationships with the hepatologists and transplant specialists who treat rare liver disease patients. That distribution moat is expensive to replicate and gives new pipeline drugs a faster path to adoption than a typical commercial-stage launch would suggest. For investors willing to wait, that foundation is the real asset.
Why Is MIRM Dropping?
The simple reason for MIRM's decline is that this is still a mid-cap company that is not profitable and, although revenue is growing, remains in the early stages. Short sellers are reacting to a specific data point in the earnings report: the company’s operating expense was much higher in the quarter ($949 million) due mostly to one-time costs associated with its acquisition of Bluejay.
This highlights the primary risk with Mirum and many biotech stocks. The company needs to turn positive trial data into durable, reimbursed revenue. Mirum is doing that; now it must show that revenue can grow in a way that makes the company profitable.
To that end, management said that its research and development (R&D) is funded and that it expects to be operating cash flow positive next year, with GAAP profitability by 2028.
However, the more complex answer comes from the company’s proposed offering of $600 million in convertible senior notes due 2032. The announcement included an overallotment option for an additional $90 million, offered in a private placement to qualified institutional buyers.
On the surface, there’s nothing too alarming about the announcement, nor will it necessarily be dilutive. Bullish investors can also speculate that some of the money may go toward additional acquisitions of revenue-generating drugs.
The Post-Earnings Dip Can Be a Buyable Opportunity
Retail investors who bought MIRM around the time it went public in 2019 have benefited from the company’s strong growth. In fact, over the past five years, MIRM is up more than 450%, including approximately 115% growth in the past 12 months.
It’s a reminder that investors with patience and conviction can be rewarded when these companies execute, as Mirum certainly has. That raises the question of how much upside is still left. The Mirum analyst forecasts on MarketBeat have a consensus price target of $137.08 as of May 19. That’s more than 40% above the stock’s price as of this writing.
Those ratings account for favorable topline readings for Maralizibat in late 2026. There’s also more upside in the company’s pipeline.
The catch? Short interest of around 17% means there will be some selling pressure on any rally, even if it’s not central to Mirum’s bull case.
Reading the Stripes: Is The Industrial Recession Over?
Author: Jeffrey Neal Johnson. Date Posted: 5/13/2026.
Key Points
- Zebra Technologies’ earnings beat and increased sales forecast suggest that strong demand is returning to the industrial sector.
- The company has successfully managed rising costs, demonstrating strong pricing power and operational control within its supply chain.
- Zebra Technologies is a key enabler of the long-term trends in automation and intelligent workflows for the global supply chain.
- Special Report: Elon Musk already made me a “wealthy man”
The sands are shifting within the industrial sector. After a prolonged two-year stretch of destocking and cautious capital spending, a key player in the global supply chain has flashed a clear green light.
Zebra Technologies (NASDAQ: ZBRA), a foundational provider of tracking and automation hardware, delivered a solid first-quarter earnings report that has investors recalibrating their expectations for the broader industrial technology landscape. Investors should view the 11% stock climb following the earnings release as more than a single-stock event; it serves as a potent leading indicator that the arteries of global commerce are unclogging. Warehouses and logistics networks are finally reopening their budgets for critical hardware upgrades, signaling a potential turning point for beaten-down industrial stocks.
From Cautious to Committed: The Great Destocking Grinds to a Halt
The #1 stock to buy BEFORE the June 12th filing (Ad)
When the SpaceX IPO launches, most retail investors will be locked out. The banks, funds, and insiders get in early - while everyone else waits on the sidelines.
But one small infrastructure supplier - a critical piece Musk can't scale the Colossus network without - is still trading well under institutional radar. A new briefing reveals the name and ticker at no cost.
Get the SpaceX infrastructure stock name and ticker hereFor months, the market has searched for a definitive sign that the industrial sector has bottomed out. Zebra Technologies' Q1 2026 performance provides compelling evidence. The enterprise solutions provider reported an impressive $1.5 billion in revenue, a 14.3% year-over-year increase that beat the consensus estimate of $1.48 billion.
Even more telling was the 4.3% organic growth, which strips out acquisitions and currency effects and shows a core recovery is taking hold. Earnings per share (EPS) of $4.75 surpassed analyst expectations by 54 cents. The beat was driven by broad-based strength, with the Connected Frontline segment growing 20.6% and the Asset Visibility & Automation segment expanding 4.8%, including notable double-digit growth in machine vision, particularly in the crucial manufacturing end market.
This robust top-line growth suggests that demand for Zebra Technologies' products, which are integral to the supply chain, is not just recovering but accelerating. Management echoed this sentiment by raising its full-year 2026 sales growth guidance to 10%-14% and projecting Q2 EPS of $4.20-$4.50, well above prior forecasts. This renewed confidence from an enterprise so deeply embedded in the industrial economy is a strong signal that the destocking cycle plaguing the sector may finally be coming to an end.
Profit Under Pressure: A Masterclass in Margin Management
Perhaps even more impressive than the revenue growth is Zebra Technologies' ability to maintain and even expand its margins in the face of significant headwinds. The technology provider reported an adjusted gross margin of 50.4%, an 80-basis-point improvement from the prior year, driven by productivity initiatives and a favorable business mix. This was achieved despite a 20% to 30% increase in freight and logistics costs and the looming threat of inflation in memory components.
Management has been proactive in addressing these challenges, implementing targeted price increases and leveraging strong supplier relationships to mitigate the impact on the bottom line. While Zebra Technologies has guided for a sequential contraction in its Q2 adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin to around 21% as memory inflation hits the profit and loss statement, its plan to fully offset the impact over the full fiscal year underscores its pricing power and supply chain control.
The Next Industrial Revolution: Intelligent Automation
Zebra Technologies is not just a beneficiary of a cyclical recovery; it is also a key enabler of the secular trends of AI and automation. Strategic investments in machine vision and artificial intelligence (AI), such as the recent partnership with Apera AI, are positioning the hardware and software provider to capitalize on the next wave of industrial innovation. With nearly 75% of global warehouses still in the early stages of their automation journey, the runway for growth is substantial.
The comprehensive portfolio of hardware (scanners, RFID readers, printers) and software solutions from Zebra Technologies provides the foundational layer for these advanced technologies. Its products collect the real-world data that fuels the AI models essential for optimizing modern logistics. This pivot from simple hardware sales to integrated, intelligent workflow solutions represents a significant expansion of its total addressable market.
Zebra's Compelling Capital Strategy
Despite strong performance and a promising outlook, Zebra Technologies' stock still trades at a reasonable forward P/E ratio of 16. That represents a discount to its historical valuation and to some peers in the automatic identification and data capture (AIDC) sector, a space seeing rapid consolidation as evidenced by Brady Corporation's recent $1.4 billion acquisition of a Honeywell International Inc. (NASDAQ: HON) division.
Zebra Technologies' commitment to shareholder returns is also a major factor. The company has repurchased $800 million of its own stock over the past two quarters, a clear sign of management's confidence in the enterprise's future prospects. With annual free cash flow expected to exceed $900 million, this aggressive capital return policy appears sustainable. This buyback program, coupled with the stock's attractive valuation, creates a compelling risk-reward proposition for investors.
Scanning for Trouble: Threats on the Horizon
While the outlook for Zebra Technologies looks overwhelmingly positive, there are a few risks that investors should keep in mind. The aforementioned margin pressures from freight and memory component costs could intensify, and the potential for new Section 301 or 232 tariffs could create additional uncertainty for hardware costs in the second half of the year.
However, Zebra Technologies' strong track record of operational execution and deep-rooted relationships with both customers and suppliers should help it navigate these challenges. Its proactive approach to managing the supply chain and ability to pass on cost increases to customers are key strengths that should not be underestimated.
The Bellwether's Call for Industrials
The resurgence of Zebra Technologies is more than a single-company success story; it is a harbinger of a broader recovery in the industrial sector and a validation of the long-term investment case for automation and supply chain modernization. As companies around the world continue to invest in these critical areas, Zebra Technologies is well-positioned to be a primary beneficiary.
For investors looking to play this powerful macroeconomic theme, Zebra Technologies offers a compelling combination of strong fundamentals, a reasonable valuation, and a clear growth runway. The recent performance suggests that the engine of the industrial economy is revving up, and Zebra Technologies is in the driver's seat. Investors with a longer-term horizon may find the current entry point an attractive opportunity to gain exposure to this secular growth story.
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