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Steve Grasso, director of institutional sales at Grasso Global, observes that the price of SPCX is not being dictated by fundamentals when the underlying math does not match market demand.
The comment suggests a disconnect between expected valuation metrics and the fund's actual market performance.
SPCX previously climbed past $175, which triggered an early unlock and positioned major indexes to buy shares within 30 days, according to a recent note by Grasso. In a separate update, Grasso also reported that SOUN maintained a slightly positive position in his firm's current holdings earlier this quarter. These developments provide context for his current remarks on SPCX's market valuation.