SpaceX's possible tender offer reignites rally in retail-favorite Destiny Tech100
15/11/2024 16:08
** Shares of Destiny Tech100 DXYZ.N , a fund that offers
retail investors access to high-profile private startups, gain
16.3% after declining in previous session
** Elon Musk's SpaceX is preparing to launch a tender offer
that would value it at $250 bln, sources say, up from the $210
bln price tag it reportedly fetched earlier this year
** The space exploration company is DXYZ's largest holding,
making up about 37.6% of the portfolio
** DXYZ trades at a premium of over 500% to its net asset
value, reflecting the frenzied demand for investment vehicles
that give retail shareholders access to private startups
** Stock has nearly tripled this month, partially buoyed by
hopes of brighter prospects for SpaceX under Donald Trump's
administration
(Reporting by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com))