Dear Reader,
The stock market just entered a highly dangerous new phase – which is going to have dramatic consequences for your money this summer.
The signs are everywhere:
SpaceX is set to go public as soon as June 11. OpenAI and Anthropic will likely follow it.
If you're thinking of buying these... PLEASE DON'T. They're likely to be disasters – the most overhyped, overvalued large-cap stocks of all time, foisted on gullible investors by Wall Street insiders.
At the same time, the President and his family are openly picking winners in the stock market... while a 24-year-old just founded his own hedge fund and made $5 billion in less than a year.
But it's what's coming NEXT that I'm most worried about.
I've spent 30 years on Wall Street. I have my MBA from Harvard and spend my time in correspondence with billionaires like Warren Buffett and Bill Ackman. I've forecast the collapse of dozens of stocks.
But what I see happening today scares me – as a former money manager, as a father, and as an American.
Because our country is headed toward an economic event unlike anything we've seen in over 100 years.
Perhaps you see the signs too. Or maybe you just feel it – that creeping, nagging doubt that tells you something is dangerously wrong in our country.
If that's you, I'd urge you... listen to your gut.
If you care about your wealth, your family, and your future, you need to understand what's really coming.
I've put together a free analysis explaining exactly what I see, and the specific steps I recommend you take with your money today.
I strongly encourage you to check it out here.
Regards,
Whitney Tilson
Editor, Stansberry Investment Advisory
Former Hedge Fund Manager
Co-Founder, Teach for America
Harvard MBA
P.S. What's happening today will reset the financial system in a way most of us can't imagine. If I'm even half-right, it's going to have a huge impact on your money and your future. Get the details here...
Drone Stocks Soar As Pentagon Considers Funding, Including a Trump-Linked Name
Authored by Leo Miller. Posted: 6/1/2026.
Key Points
- A Wall Street Journal report on the Pentagon's $1.1 billion Drone Dominance program sent drone-related stocks broadly higher across multiple sectors.
- Unusual Machines surged 57% after being named as a potential funding recipient, with shares up more than 100% year-to-date and 900% since its 2024 IPO.
- Kratos Defense and Axon Enterprise also gained 13.8% and 12.3%, respectively, reflecting investor interest in autonomous defense and counter-drone technologies.
- Special Report: Elon Musk already made me a “wealthy man”
Drone stocks just caught a bid after investors reacted to a Wall Street Journal report that the Trump administration is in talks to fund multiple U.S. drone companies tied to the Pentagon’s “Drone Dominance” initiative.
The report linked those talks to the Pentagon’s $1.1 billion Drone Dominance program, which is designed to accelerate the fielding of low-cost, one-way attack drones. Official program materials describe a goal of fielding hundreds of thousands of weaponized drones by 2027, while the Journal reported a target of 300,000 drones.
Before SpaceX goes public, watch this tiny supplier closely (Ad)
When the railroads launched in the 1860s, Andrew Carnegie didn't profit by riding the trains - he got rich owning the steel rails they ran on. The same dynamic may be playing out today around the anticipated $1.75 trillion SpaceX IPO.
Analyst Michael Robinson has identified a tiny, under-the-radar supplier - just 1/60th the size of SpaceX - that he believes sits at the center of Elon Musk's broader AI infrastructure buildout. Once SpaceX goes public this June, Robinson argues Wall Street will inevitably spotlight this overlooked vendor.
Watch Robinson's presentation and see the details before the IPO window closesThe news sent many drone stocks flying higher as the government signaled demand for drones and a potential willingness to help finance the projects. Unusual Machines (NYSE AMERICAN: UMAC) was the only publicly traded company directly named in the report, but the rally quickly spread to other drone-adjacent stocks. Companies with exposure to drone components, autonomous defense systems, and counter-drone technology also moved higher, including Kratos Defense & Security Solutions (NASDAQ: KTOS) and Axon Enterprise (NASDAQ: AXON).
Unusual Machines: Trump-Linked Component Maker Pops More Than 50%
Unusual Machines stock surged by a whopping 57% in one day after being identified as one of the companies under consideration for potential funding.
Notably, President Trump’s son, Donald Trump Jr., is a member of Unusual Machines' board of advisors and a shareholder in the small drone component manufacturer. In 2024, shares soared more than 80% in the two days following the company's announcement of Donald Trump Jr.’s involvement.
Overall, Unusual Machines shares are now up more than 900% since going public in 2024 and more than 100% year-to-date (YTD).
Unusual Machines' Q1 2026 earnings report was mixed. Sales of $8.1 million were well above the $5.5 million analysts expected, resulting in revenue growth of 296% year-over-year (YOY) and the firm’s eighth consecutive quarter of record sales. However, the company missed on adjusted earnings per share (EPS) by a wide margin. Its EPS of 21 cents was 15 cents below the analyst estimate.
The company had more than $220 million in cash on hand at the end of the first quarter, giving it ample financing runway given its cash burn of $38 million over the last 12 months. However, an injection of government capital could allow the firm to scale its operations significantly faster.
The analyst consensus price target of $22.33 implies a drop of more than 20%. However, analysts may raise their targets following the company's inclusion in the report. At the same time, it's possible analysts will wait for more information on potential government funding before altering their targets.
Kratos: Autonomous Fighter Jet Stock Spikes
Kratos was not named in the report, but it saw a clear sympathy move, gaining 13.8% as investors looked for broader exposure to the unmanned aerial systems market.
Kratos is not known for traditional “small” drones, but for developing autonomous fighter jets, including its Valkyrie and Mako systems. Target drones are also a significant part of the business, helping customers learn how to fight against autonomous targets.
Kratos took the stock market by storm in 2025, rising by 187%. This made Kratos one of the best-performing defense stocks of the year, eclipsing the 174% return of Rocket Lab (NASDAQ: RKLB).
However, Kratos shares have come down sharply in 2026, dropping approximately 50% from their all-time high.
Much of the decline appears tied to the stock getting ahead of itself rather than a clear deterioration in the business. Kratos has handily beaten estimates in its last three earnings reports, but the stock still dropped substantially after each report. Valuation was a major part of the pressure. In mid-January, shares traded at a forward price-to-earnings (P/E) ratio near 183x—a level that is difficult for most stocks to maintain.
While Kratos’s main focus is not on the small units the Drone Dominance initiative emphasizes, the report signals strong government interest in the overall UAS industry. In 2025, 68% of Kratos's revenue came from contracts for which the U.S. government was the final customer.
Axon: Gains 10% as Counter-Drone Demand Gets a Fresh Catalyst
Axon Enterprise (NASDAQ: AXON)—best known for its TASER devices, police body cameras, and key software products used by law enforcement—is consistently expanding its offerings, including drones. But it operates on the other side of the equation, providing counter-drone solutions.
Axon was also not named in the report, but the stock rose 12.3% as investors looked beyond drone manufacturers to companies that could benefit from rising demand for drone detection and defense systems.
Axon acquired its Dedrone business in 2024 and saw massive growth from the product in its latest quarter. Counter-drone sales increased by approximately 300% YOY, while bookings rose even faster at 500% YOY. Notably, the Pentagon recently awarded a $500 million ceiling to counter-drone company Perennial Autonomy, demonstrating continued interest in counter-drone systems.
Despite this surge, Axon Enterprise shares have faced significant pressure over the past 52 weeks, down over 45% from their high. Like Kratos, valuation was a concern, with Axon trading at a forward P/E ratio as high as 131x in 2025. The large sell-offs seen across the software industry due to fears of artificial intelligence disruption have also affected the stock.
This comes even though hardware continues to make up the majority of the company’s sales. Last quarter, hardware accounted for 56% of sales, versus 44% for software and services, and both segments posted very strong YOY growth of over 30%.
Boeing’s Unseen Rebound: Why the Headlines Are Wrong
Authored by Jeffrey Neal Johnson. Posted: 6/12/2026.
Key Points
- Boeing delivered 60 commercial aircraft in May, a 33% year-over-year increase, supporting management's fiscal year 2026 free cash flow target of $5 billion.
- Two major catalysts, FAA authorization for 777X flight testing and a Chinese order for 200 aircraft, have significantly strengthened Boeing's long-term backlog and revenue pipeline.
- Institutional positioning in January 2027 call options and director Bradley Tilden's open-market purchase of 1,370 shares on May 23, 2026, signal growing insider and institutional confidence.
- Special Report: Elon Musk already made me a “wealthy man”
The market’s perception of The Boeing Company (NYSE: BA) remains anchored in a narrative of regulatory friction and production stalls. While retail sentiment is still weighed down by legacy headline risk, the aerospace sector giant quietly delivered 60 commercial aircraft in May, a 33% year-over-year (YOY) surge that mechanically supports the free cash flow needed for aggressive balance sheet deleveraging.
This post-strike production high suggests that manufacturing bottlenecks are easing, creating an asymmetric entry point for buyers in a duopoly with a massive global backlog.
Before SpaceX goes public, watch this tiny supplier closely (Ad)
When the railroads launched in the 1860s, Andrew Carnegie didn't profit by riding the trains - he got rich owning the steel rails they ran on. The same dynamic may be playing out today around the anticipated $1.75 trillion SpaceX IPO.
Analyst Michael Robinson has identified a tiny, under-the-radar supplier - just 1/60th the size of SpaceX - that he believes sits at the center of Elon Musk's broader AI infrastructure buildout. Once SpaceX goes public this June, Robinson argues Wall Street will inevitably spotlight this overlooked vendor.
Watch Robinson's presentation and see the details before the IPO window closesThe disconnect between factory output and stock valuation has created a compelling opportunity for investors who prioritize operational data over media sentiment. At Boeing's current share price, the market appears to be pricing in continued disruption rather than the emerging reality of a stabilized and accelerating industrial machine.
For investors willing to look past the noise, the foundational metrics of a powerful industrial turnaround are coming into alignment.
From Factory Floor to Free Cash Flow
For an industrial titan like Boeing, deliveries are the ultimate measure of financial health. Each aircraft handoff triggers final customer payment, injecting high-margin revenue directly into the treasury. The May delivery of 60 jets, including 51 of the critical 737 MAX narrowbody, is the clearest evidence yet that Boeing is moving past the wiring defects and supplier constraints that previously capped output. This operational cadence is central to achieving management’s stated fiscal year 2026 free cash flow (FCF) target of $5 billion.
Understanding the importance of this FCF generation is critical, especially when analyzing Boeing's balance sheet. Boeing currently has a debt-to-equity ratio of 7.42, which requires robust, predictable cash flow to manage effectively. The recent 14% YOY revenue growth reported in the first quarter of 2026, which produced an earnings-per-share result that comfortably beat consensus estimates, demonstrates the powerful earnings leverage that comes from scaling production against fixed costs.
As Boeing continues to smooth out its supply chain, particularly with key fuselage suppliers, lower rework hours per airframe should translate into further margin expansion. This is the core of the bull thesis: as deliveries normalize, cash flow should improve, allowing for faster deleveraging and a fundamental re-rating of Boeing's valuation.
Boeing's Revenue Is More Secure Than You Think
While the current production ramp provides immediate financial relief, two recent catalysts have significantly de-risked Boeing's long-term revenue and backlog profile.
First, the U.S. Federal Aviation Administration (FAA) granted Type Inspection Authorization for the 777X program in early June. This begins the final phase of flight testing for the next-generation widebody jet. Securing this regulatory milestone clears a path for late 2026 certification and the start of highly profitable 777X deliveries in 2027, unlocking a new and important product cycle.
Second, a landmark agreement confirmed a Chinese order for 200 Boeing aircraft. For years, geopolitical tensions had largely sidelined Boeing from one of the world's fastest-growing aviation markets, allowing its primary competitor, Airbus (OTCMKTS: EADSF), to gain significant ground.
This new order signals a crucial reopening of a multi-billion-dollar sales channel, adding substantial depth and visibility to Boeing's production backlog for years to come. Together, these two events offer a strong rebuttal to the bearish argument that the current recovery is temporary, reinforcing a clear and durable path to future earnings growth.
Insiders and Institutions Are Quietly Boarding Boeing
While retail investors may be hesitant, institutional players and corporate insiders appear to be positioning for an upside move.
The options market reveals a telling trend: a significant build-up of open interest in the January 2027 $250 call options. This positioning suggests that sophisticated investors are hedging against, or speculating on, a sharp share price appreciation that would push Boeing well above its current trading range and closer to the average analyst price target of $259.80.
Further reinforcing this view is the low level of short interest, currently around 2% of the float. Despite the negative headlines, institutional bears are showing a clear unwillingness to bet against the fundamental operational recovery underway.
Perhaps the most compelling signal comes from within Boeing itself. On May 23, 2026, Boeing Director Bradley Tilden acquired 1,370 shares on the open market. Insider buying from a director is a powerful vote of confidence in Boeing's strategic direction and future valuation. When insiders with the most intimate knowledge of a company's operations are willing to invest their own capital, it sends an unambiguous message to the market about their conviction in the long-term value proposition.
What Boeing's Turnaround Means for Your Watchlist
For investors focused on industrial turnarounds, Boeing presents a case where the underlying financial and operational metrics are improving far more rapidly than the public narrative suggests. The confluence of accelerating deliveries, a de-risked product pipeline, and clear signals of institutional accumulation suggests that the worst of the turbulence may be passing.
Potential headwinds, including persistent supply chain vulnerabilities and any renewed regulatory scrutiny, remain notable risks that warrant careful monitoring.
However, the data points to an inflection point. The operational momentum seen in May provides a tangible foundation for financial recovery and balance sheet repair. Investors looking for a long-term position in a global industrial champion might consider the current disconnect between sentiment and reality as a window of opportunity.
Those convinced by the operational turnaround may find the current valuation an attractive entry point for a long-term hold, while more cautious investors might add Boeing to their watchlist to monitor continued delivery consistency and margin improvement in the coming quarters.
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