Here is the link. When I first looked at the stock price, I thought my phone was broken. Fundrise Innovation Fund (VCX) made its market debut at $31.25 per share. This fund's 7 largest positions break down as follows:
- Anthropic at 21% of total assets,
- Databricks at 18%
- OpenAI at 10%
- Anduril at 7%
- SpaceX at 5%
- Ramp at 5%
- Epic Games at 4%
Now these have been very, very popular private company names, with some teasing the idea of an IPO. However, the issue with this fund now is that the NAV, or Net Asset Value, is just $18.97, making the current price of over $500 a share a wild and horrible overvaluation. Now, since I started looking into this fund, the stock rose 76% today to over $550 but has pulled back to just under $400.... still up over 25% on the day.
Yes, it looks like it is pulling back, but boy oh boy is owning it at $550 going to hurt.
Robinhood’s VCI is drooling over this performance
lol I sold some of the shares I had to day! I honestly love the initial companies in the fund like Boom and Oura and think that those will be great in a few years. Plus RVI did just get some Stripe which is also a great move. That all being said is this was a great day to take some of the $21.67 a share RVI I had and dump it at $31,67 lol!
I feel like this describes much of the last decade.
This might actually be worse than GameStop, and that was a huge loss for some people.... Yes, a ton of people got up big with the squeeze, but they held on too long and lost a lot more money.