To The Moon

Destiny Tech100 fund's premium to its net asset value signals a 'speculative frenzy', analyst says. Animal spirits are again running wild on Wall Street, and some analysts hear echoes of past market excesses.A new publicly traded fund, the Destiny Tech100 Inc. , which gives individual investors exposure to a number of private tech companies including Elon Musk's SpaceX, OpenAI and Fortnite maker Epic Games, on Monday saw its shares soar as much as 1,008% since its listing on the New York Stock Exchange in late March.The fund, which trades under the ticker symbol "DXYZ," originally opened at $8.25 on March 26. Its shares surged to an intraday high of $105 earlier this week before giving back over half of its gains in the next three days to settle at $50.41 on Thursday afternoon, according to FactSet data.With Silicon Valley startups staying private longer these days, senior executives, investors and employees are increasingly e