Merger
Hear me out, please.
There is a very high chance (not 100% though) that if a merger proposal is announced, it will be based on the two closing prices of Oct 20, 2026. When in the SPCX earnings call Elon announced the 2 special committees.
Argument is that all price movement thereafter has merger speculation included.
Below is a chart of the presentation I gave Friday on Slice. There were some more nuggets in there, will publish all here on X latest Friday.