Destiny Tech100, Inc. operates as a non-diversified, closed-end management investment company. It holds many hot, still private companies, which expect to debut in the capital market as early as June/July.

Continuous announcements of fundraising rounds on record-breaking valuations and business updates for portfolio companies sent DXYZ -8.10%↓ soaring in May. Add FOMO, and you will get a parabolic rise.

It all went like never-better story… until May 12.

Let’s go step-by-step to get a clue what really happened here.