SpaceX Shares Slide Below $147, RAM Prices Surge, and Market Enters 'Strangest Stretch' on New Episode of DHUnplugged

The latest episode of DHUnplugged, titled 'MahJong and Markets,' arrives June 23, 2026, with hosts John C. Dvorak and Andrew Horowitz dissecting a series of striking market developments. SpaceX shares have slid below $147 following its IPO, while RAM prices have exploded, with DDR5 memory jumping from about $75 to $450. The episode also eulogizes former Federal Reserve Chairman Alan Greenspan, who died at 100, and notes that Alphabet is set to replace Verizon in the Dow Jones Industrial Average, lifting the index's tech weighting from roughly 17% to 22%.

The hosts launch a new 'Closest to the Pin' contest for SpaceX shares, as the company navigates a post-IPO slump. Elon Musk cashed out $7.5 billion in Tesla options, and SpaceX announced a $20 billion bond offering alongside a $6.3 billion computing deal with Reflection AI at the Colossus 2 data center in Memphis. Dvorak and Horowitz question the sustainability of Musk's aggressive deal-making, with Horowitz relaying a striking framing: 'Someone said something very interesting today, that he sees these as points in a game, like points in a video game, tokens that you win. It's not real money.'

RAM pricing has become a major pain point for PC buyers. Dell is quoting a $5,700 corporate desktop that costs $2,700 on the consumer site, reflecting the surge in memory costs. Dvorak warns that memory pricing defies the historical learning curve and that Micron, SanDisk, and Western Digital could face brutal oversupply. The hosts also note that the Korean KOSPI briefly plunged into correction territory overnight, and China's H-shares entered a bear market as retail sales contracted.

The episode delves into broader market shifts. Horowitz revisits his long-running mattress-company thesis, pointing to Sleep Number (SNBR) collapsing from $140 to roughly ten cents, calling it a 'swing and a miss' short. Dvorak tracks insider selling across dozens of companies, describing his screen as a 'sea of red,' with Cantor Equity Partners (linked to Commerce Secretary Howard Lutnick) as the lone buy. The pair also revisit Greenspan's legacy, calling him a 'walking thesaurus' whose vocabulary once required decoding.

Other topics include Chris Bloomstrand's analysis of hyperscalers shifting from asset-light to asset-heavy models, Satya Nadella's comment that AI has become commoditized, Oracle cutting 21,000 jobs, Getty Images soaring 145% on an OpenAI licensing deal, and a Chevron-Microsoft 20-year natural gas power pact dubbed Project Kirby. The hosts also flag the mahjong craze, citing Yelp's 4,400% search surge.

The episode is available at dhunplugged.com and on Spotify, Amazon Music, Apple Podcasts, and RSS.