Stock Track | Destiny Tech100 Inc Soars 5.53% in Pre-Market on SpaceX Valuation Surge to $350 Billion

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Destiny Tech100 Inc (DXYZ), a fund offering retail investors exposure to high-profile private startups, experienced a pre-market soar of 5.53% on Thursday. This significant rally appears to be driven by the 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 has had a positive impact on DXYZ's stock performance.

Expectations of continued support and contracts from the new US administration, combined with SpaceX's innovative approach to space exploration, have likely contributed to the company's valuation surge. Investors are optimistic about SpaceX's prospects, fueling demand for exposure through funds like DXYZ.

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