Matt Levine’s Money Stuff: Private Markets Get More Public

Private markets are the new public markets

Oh man here’s a SpaceX stock chart:

Source: Yahoo Finance.

That’s a year-to-date chart of SpaceX’s price reported by Forge, a private stock marketplace, as shown on Yahoo Finance. Here’s Stripe’s considerably more boring chart:

Source: Yahoo Finance.

That chart shows only two price changes (from $25.77 to $27.50 per share on Jan. 17 and from $27.50 to $35.95 on Feb. 28), suggesting that it might reflect two trades. Or fewer: Yahoo adds a note explaining that the “Forge Price is a derived data point that reflects the up-to-date price performance of venture-backed, late-stage ...