To The Moon

1. Market Commentary on Wednesday’s FOMCAfter two consecutive days of rebound, the market resumed its decline today. The $S&P 500(.SPX)$ gained a total of 2.78% over Friday and Monday, slightly above the historical average rebound of +2.45% following a 10% correction, making it a relatively normal occurrence (see last Thursday Commentary).The most important macro event this week is Wendesday’s FOMC meeting. Based on interest rate futures pricing, the probability of a rate cut tomorrow is only 1%. We believe this pricing is reasonable—economic weakness is not yet evident enough, and uncertainty surrounding the inflationary impact of tariff policies gives the Fed no reason to cut rates at this moment. Therefore, the market's focus will be on the

$Rubrik Inc.(RBRK)$ Rubrik, Inc. (NYSE: RBRK) is a cybersecurity firm specializing in data security solutions, including enterprise data protection, cloud data protection, and cyber recovery services. Rubrik, based in California, offers data security technologies and serves over 6,100 customers worldwide. Their CEO and co-founder, Bipin Sinha, has been leading the company since 2014. Rubrik's product suite includes data protection, threat analytics, cyber recovery, and more. The company has already secured almost $1 billion in funding from firms like Lightspeed, Greylock Partners, and, of course, Microsoft. As for its finances, Rubrik has $280 million in cash, $1.6 billion in liabilities, and a free cash flow of $16.9 million. The company’s revenu