Lesson 1 / 9 · 8 min · take your time
There is no public last
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Board 01
There is no public last
means before a public listing. The company may have sold shares to funds, employees, or other private buyers. Those shares do not have a public on an exchange. This classroom’s globe, , and paper desk cannot show a honest for a name that does not trade in public. If a dashboard here ever printed one, it would be fiction. We do not fiction as last.
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means before a public listing. The company may have sold shares to funds, employees, or other private buyers. Those shares do not have a public on an exchange. This classroom’s globe, , and paper desk cannot show a honest for a name that does not trade in public. If a dashboard here ever printed one, it would be fiction. We do not fiction as last.
People still quote a “price.” That number is usually a mark from the private round, a 409A appraisal for employee options, or a wish. A mark is an opinion used for paperwork. It is not a you can hit. It is not a two strangers agreed in a public . Treating a mark as last is how people size a story.
When someone says “it is already worth $40 a share,” : worth to whom, in which contract, with which rights, and who is actually bidding. If the answer is a screenshot, you have paint. Look. Do not buy. Not a broker. We will not paper-trade this.
Say it back below. Then the next lesson opens. If you leave the page, we will ask to save your spot.
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