Investing

The Destiny Tech 100 ETF (DXYZ) Keeps Ripping Higher

Austin Smith

Published: November 22, 2024 8:50 pm

Key Points:

• Because it exposes private tech behemoths like SpaceX and OpenAI, which are otherwise unreachable to ordinary investors, the Destiny Tech 100 ETF has become rather popular.
• Both long-term investors in the ETF’s underlying assets and retail traders on sites like Reddit will find great appeal in its notable volatility.
• Another important component of the ETF is Klarna, a Swedish business focused in “buy now, pay later” services, which increases its attractiveness even with certain hazards.
• Instead of chasing the Destiny Tech 100 ETF higher, look at ‘The Next Nvidia’ stocks that are booming instead. 

Watch the Video

Transcript:

[00:00:00] Doug: We’ve got the destiny tech 100 ETF. We do. The thing is going up a lot, so I don’t get it. If you could explain it to me at the end of our conversation, I’d

[00:00:12] Lee: Okay. Well, the destiny tech 100 etf is, like every other etf is exchange traded fund. The symbol is, D X Y Z And it has been going crazy. I mean ever since, um, the president got elected with, elon musk, riding in on his coattails or Perhaps the president’s on Musk’s coattails.

[00:00:38] Lee: It’s been going nuts. And there’s a simple reason, within the portfolio. There’s a bunch of, big private names that people know, but the two that people are the most interested in is if you buy this ETF, you can own SpaceX. Which is of course, Musk’s, rocket and space company. And you can also own, open AI, which there’s no way to buy now.

[00:01:04] Lee: I think that’s been the trigger for, um, people going into it. And of course it’s the kind of thing that the, Reddit and, Wall Street trader. Young people go, Oh, my God. Oh, my God. I can trade this back and forth. It’s almost like a meme stock. And while it’s probably more value than, GameStop or any of the former meme stocks, it’s a viable if you have a long term perspective, and I mean, long term, it’s a valuable, and viable, Engine to own those companies.

[00:01:44] Lee: And there’s another one in there called Clara, K L A R A, it’s a company based in Sweden, or I think it’s in Sweden and they’re big in the buy now pay later program, which may or not be going to zero, but that’s, the reason this is, I mean, it went from , during the election it went from 24 to 50, then it went back to 26, then back to 35.

[00:02:09] Lee: So it’s become a, stock, a fast money trader’s dream. But for long-term investor, it’s probably worth looking at.