TradingKey – SpaceX (NASDAQ: SPCX) revealed on June 16 that it’s acquiring Anysphere, which owns AI coding startup Cursor, for $60 billion, in an all-stock deal four days after its IPO became the biggest in history. The deal sent SPCX shares to an all-time high of $225.64 intraday, before the Fed turned more hawkish on June 17, leading to an intraday drop of 5.6% that sent the stock back into the $187 to $192 range.

SPCX is now at $191.82, down from $201.80 yesterday, with the stock round-tripping from $135 to $225.64 and back inside a week. The Cursor acquisition, how the market is responding to it, and the supply side dynamics yet to unfold for SPCX are where investors should focus, the chart is the less important part of this…