Aug US crude is trading at $67.91 almost exactly where it was on Feb 27… how is this possible given all the uncertainly/risk in global oil trade right now…?
I believe this is the lowest (or among the lowest) daily volume since public listing…
Edit: Confirmed. Lowest volume trading day since launch.
Flagship marked down to nav/share of $12.42 today. Had been as high as $14.95 at end of Q1 when they were booking profits from flipping vcx. Prior to listing vcx, flagship had a nav/share of $12.72 in mid-March…
So we know that Fundrise has made at least $200m in profits from their vcx flip in the flagship fund (largely realized in q2 given form144 filings). At its peak (end of q1), aum was $1.4b. It has now returned to $1.2b. Does that mean flagship fund lost (or wrote down) $200m (1/6 in value) in q2 on their traditional real estate investments and are only net/net neutral given vcx flip?
If so, holy!
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Context
See here: https://www.sec.gov/Archives/edgar/data/1843974/000157587226000288/dxyz100_424b3.htm
And here: https://www.sec.gov/Archives/edgar/data/1843974/000157587226000284/dxyz098_424b3.htm
They also hold about 15% of their portfolio in SpaceX so DXYZ could move dramatically the next 4 weeks with the IPO
Based on filing dates, they could have issued at $50-75 (ie at least double nav from March 31, 2026).
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Waiting on VCX to get this going - we wont be trading at 10x nav for long… hoping we see a 424b3 this coming week so we can get started!
Looks like they will be going early-stage so different play than VCX. Interesting to see nonetheless. Sharing for awareness.
Would be interesting to understand the block order sizes from the last few days to try to give an indication of how aggressively Fundrise is selling from the April 24 144.
My hypothesis is they are selling into the price action, magnifying the volume the last few days. Would need to see print size distribution to confirm.
Open to other’s perspectives.
u/BurnsVail - what are you tracking in Fundrise’s drawdown from the April 24 144?
I keep seeing a fixed 2.35$ cross chain swap fee appear as of 5/6 for all cross chain transactions. This hasn’t been there in the past. Is this a new phantom fee?
Would hope vcx can deploy some of their massive cash pile to ensure we keep our place on the cap table :D