SpaceSeeking Alphaabout 4 hours ago
Powerlaw: SpaceX Premium Makes This Fund Dangerous
1 min read
Powerlaw (PWRL) trades at a ~22% premium to NAV with 19% allocated to SpaceX. The author rates PWRL a sell, citing structural risks and probable post-IPO declines. SpaceX's likely IPO valuation of $1.75T exceeds Damodaran's $1.3T fair value, implying 23-24% downside.
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