Is the SpaceX IPO a Trap for Retail Investors? + $NU + $MRLN (E136)

SpaceX is finally going public and it might be the most hyped IPO in a generation. But does that make it a buy, a trade, or a trap? Luke and Krzysztof have completely different plans, and neither one is obvious. This week also covers a tiny autonomous aviation startup that jumped 30% on a massive red day, why Luke dumped $WISE and owns $NU instead, and why the easy money on big IPOs is almost never made by the people watching from home.🚀 Luke owns SpaceX *already* — but he's locked out, taxed, and has zero control over what happens next. His plan is more complicated than you'd think. $SPCX🎴 Krzysztof refuses to be a long-term SpaceX holder — and instead wants to swing trade the IPO hype with options. Is he right to ignore the Rocket Lab lesson?🎯 The musical chairs problem: why retail investors almost always arrive after the easy money is gone — and what to do about it.🤖 A tiny pre-revenue company called $MRLN (Merlin) jumped 30% on one of the worst market days in months after a US Special Operations milestone. Krzysztof bought it impulsively. Was it genius or madness?🎓 Is autonomous flying actually *easier* to solve than self-driving cars? Krzysztof makes the contrarian case and braces for pushback from a pilot in the Patreon community.💰 Luke sold every share of $WISE after the AML scandal deepened and explains exactly why a 2-3 year regulatory headache makes it uninvestable right now, even if the business model is sound.📊 $NU (Nubank) serves over 135 million customers, more than half of all adults in Brazil. Luke breaks down why it's trading at just 13x forward earnings despite 40% loan book growth, and what the real bear case actually is.🌴 Krzysztof offers to document his live SpaceX options trades in real time for Patreon Dolphins. Tune in if you want to watch a philosopher-investor try to outsmart the hype machine.Segments:00:00:00 The Musical Chairs Problem With IPOs00:01:06 SpaceX IPO Week — What's Actually Happening00:05:45 Luke's SpaceX Position: Locked Up, Taxable & Out of Control00:09:24 Luke's Plan to Build a Real $SPCX Position00:12:26 Krzysztof's Contrarian Take: Swing Trade the Hype, Don't Own It00:20:21 $MRLN Merlin Inc — Autonomous Flight for the US Military00:24:00 Is Autonomous Flying Easier Than Self-Driving Cars?00:33:39 The Bear Case for Merlin: No Revenue, 200x Sales00:39:53 Why Luke Sold All His $WISE Stock00:45:07 $NU Nubank — Banking Half of Brazil at 13x Earnings00:53:14 The Nubank Bear Case: Loan Book Risk in a Developing Market**********If you want to see our furry faces, this podcast is also available on YouTube at ⁠youtube.com/@WallStreetWildlife?sub_confirmation=1⁠**********SUPPORT THE SHOW AND BECOME A PATREON:wallstreetwildlife.com**********Follow us at:⁠⁠x.com/7LukeHallard⁠x.com/7FlyingPlatypus**********Fiscal.AI is the Complete Stock Research Platform for fundamental investors. With its beautiful design and institutional-quality data, Fiscal AI is incredibly powerful and easy to use.Get 15% off any premium plan with:fiscal.ai/wildlife**********Monkey’s “Zen, Nietzsche, How to Live” Substack:firephilosophy.substack.com**********To use the same portfolio tracking tool as Luke, check-out:portseido.com/?fpr=lukehallard**********Disclosure: Wall Street Wildlife hosts and guests are not financial advisors, and nothing they say on this show is formal advice or a recommendation**********Keywords:SpaceX IPO, $SPCX, IPO investing, retail investor traps, IPO hype cycle, Merlin Inc, $MRLN, autonomous aviation, autonomous flight, military tech stocks, Wise AML scandal, $WISE, Nubank, $NU, Brazil fintech, neobank investing, options trading IPO, swing trading, pre-revenue stocks