Stock Track | Destiny Tech100 Inc Soars 10.07% in Premarket on SpaceX's Valuation Surge to $350 Billion

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Shares of Destiny Tech100 Inc (DXYZ), a fund offering retail investors exposure to high-profile private startups, soared 10.07% in premarket trading on Thursday. This significant rally was fueled by news that one of DXYZ's major holdings, SpaceX, has agreed to an insider share sale that values the private space exploration company at a staggering $350 billion.

SpaceX, led by CEO Elon Musk, makes up around 37.6% of DXYZ's portfolio. The company's valuation has surged from $112 per share in a prior valuation less than three months ago, cementing SpaceX's status as the most valuable private startup in the world. This substantial increase in SpaceX's valuation is expected to have a positive impact on DXYZ's stock performance.

Investors are optimistic about SpaceX's prospects, driven by expectations of continued support and contracts from the new US administration, combined with the company's innovative approach to space exploration. This has fueled demand for exposure to SpaceX through funds like DXYZ, contributing to the fund's premarket soar.

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