12/23

Why is DXYZ Up Today After SpaceX Surge

The Destiny Tech100 ETF (DXYZ) closed on December 23rd at $68.00, marking a significant 13.11% increase, driven by a surge in the valuation of SpaceX, a key holding in its portfolio. SpaceX's valuation has soared to approximately $350 billion, fueled by investor enthusiasm following the U.S. presidential election, which saw the election of a president supportive of SpaceX's CEO, Elon Musk. This political backdrop has bolstered investor confidence, leading to a substantial increase in the ETF's value. Additionally, strong performances from other companies in the ETF's portfolio, such as NANO Nuclear Energy and Reddit, have contributed to the upward momentum. NANO Nuclear Energy has seen a nearly 500% rise this year, while Reddit's stock has surged over 370%, driven by robust financial results and strategic growth initiatives.