On today’s episode, we cover a packed week across private markets, U.S. dealmaking, and Canadian earnings. We start with SpaceX and the growing anticipation around a potential IPO. We break down why the valuation, limited public float, and upcoming share unlocks could make this one of the most closely watched public listings whenever it eventually happens. We also look at a busy start to the week for acquisitions, including Fox’s investment in Roku, Salesforce’s latest deal, and American Express making a move of its own. Then we turn to earnings, with Dollarama posting a strong rebound quarter, Groupe Dynamite selling off sharply despite impressive growth numbers, and Adobe delivering solid results on the surface while investors focused on what may be ahead. Plus, a quick preview of Monday’s episode, where we’ll be diving deeper into the recent short report on Gildan. Tickers discussed: SPACE, FOXA, ROKU, CRM, AXP, DOL.TO, GRGD.TO, ADBE, GIL.TO Subscribe to Our New Youtube Channel! Check out our portfolio by going to Jointci.com Our Website Canadian Investor Podcast Network Twitter: @cdn_investing Simon’s twitter: @Fiat_Iceberg Braden’s twitter: @BradoCapital Dan’s Twitter: @stocktrades_ca Want to learn more about Real Estate Investing? Check out the Canadian Real Estate Investor Podcast! Apple Podcast - The Canadian Real Estate Investor Spotify - The Canadian Real Estate Investor Web player - The Canadian Real Estate Investor Asset Allocation ETFs | BMO Global Asset Management Sign up for Fiscal.ai for free to get easy access to global stock coverage and powerful AI investing tools. Register for EQ Bank, the seamless digital banking experience with better rates and no nonsense. See omnystudio.com/listener for privacy information.

SpaceX IPO Mania, M&A Heats Up, Dollarama Rises While Dynamite and Adobe Drop

The Canadian Investor

# Full Transcript

**Podcast:** The Canadian Investor

## Transcript

[SPEAKER_A] Investing is simple, but don't confuse that with thinking it's easy.

[SPEAKER_B] A stock is not just a ticker. At the end of the day, you have to remember that it's a business.

[SPEAKER_A] Just my reminder to people who own cyclicals, don't be surprised when there's a cycle.

[SPEAKER_B] If there's uncertainty in the markets, there's going to be some great opportunities for investors.

[SPEAKER_A] This has to be one of the biggest quarters I've seen from this company in quite some time.

[SPEAKER_B] Welcome to The Canadian Investor Podcast. I'm Simon Berange. I'm back with my co-host Dan Kent. We have a fun and jam-packed episode today. So we're going to start with SpaceX and its highly anticipated IPO that happened last Friday, and why the valuation, the limited public float, and the upcoming share unlocks are worth paying attention to. We'll also touch on a busy start to the week on the acquisition front with deals involving Fox and Roku, Salesforce and American Express. Express. Then we'll move over to the Canadian side of the earnings, including Dollarama's strong rebound quarter, Group Dynamite's big post-earning drop, and Adobe, where the result looks solid on the surface but the market clearly had other concerns. If we have time, we'll also touch on Oracle, depending how long it takes. And then, just a quick note, I'm sure some of you are aware of the Gildan short report. We will be going over that on Monday in more details. So we won't really touch on it in this episode.

[SPEAKER_A] Yeah, and we have kind of a segment going over, I think I probably pulled 10 or 15 years' worth of kind of high-profile Canadian short reports that have been issued, what happened, how they did afterwards, things like that. So the Monday episode will be a good one, but let's get into SpaceX. It was a success, I would say.

[SPEAKER_B] I would say it was a success. SpaceX, like I mentioned, made its IPO debut, debuted as an IPO on June 12th, so having trouble with that one there. And the stock is up more than 30% based on the IPO price of $135. It values the company at more than $2.6 trillion. It's placing SpaceX in the same company in terms of market cap as a Microsoft, Amazon, TSMC, and Broadcom as well. Actually, it's within that group, and then it's above, actually fairly decent amount above in terms of market cap over Broadcom. Com, Saudi Aramco, and even Meta. And note how a lot of people might hear these names. Well, all of these companies are very profitable, unlike SpaceX. So that's one of the big things. It's trading at a valuation, and of course it's quite volatile for a company this large right now, but it's trading at around 140-150 times sales just based on Q1 2026 revenues. And it's not easy to find data if you wanna start comparing of what we saw during the dot-com bubble, because it was back in the 1990s, and for those that weren't born in the 1990s, the intern...

SpaceX IPO Mania, M&A Heats Up, Dollarama Rises While Dynamite and Adobe Drop

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

SpaceX IPO Mania, M&A Heats Up, Dollarama Rises While Dynamite and Adobe Drop

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.