Fundrise Innovation Fund shares tumble 34% after volatile $575 spike
The Fundrise Innovation Fund's shares tumbled 34% on March 27, right after a previous 31% dip.
This rollercoaster started with shares spiking to $575, way above the estimated net asset value per share of $18.97, which coincided with a short call from Citron Research.
Since its March 19 debut, the fund has been all over the place.
Fundrise market value exceeds net assets
Fundrise lets regular investors get in on private tech giants like Anthropic and SpaceX (with a catch: most investors are restricted from selling for the first six months after the listing).
The fund has a market value of slightly more than $6 billion versus net assets of $679 million, a huge gap that's raising eyebrows about possible overhype.
With SpaceX and Anthropic both eyeing massive IPOs soon, it's a high-risk, high-reward play that's got everyone talking.