$Destiny Tech100(DXYZ.US) has risen by 11%. The sentiment is driven by that SpaceX IPO news, pushing its valuation higher. The market is buying it as a proxy to get on the SpaceX bandwagon. But in essence, it's a closed-end fund, with a net asset value of just over twenty dollars per share. The current market price is more than double its net asset value, and the premium is entirely supported by the hype around SpaceX. Once the IPO news is confirmed and realized, how does such a high premium typically end?
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