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VCX fund crashes 94% but still trades at a 54% premium over NAV, prompting sell recommendation.

Analyst Insights
25 Sep 2026
Seeking Alpha
View Source
Bearish
VCX fund crashes 94% but still trades at a 54% premium over NAV, prompting sell recommendation.

The Fundrise Innovation Fund (VCX) has dropped 94% from its peak yet remains overvalued, trading at a 54% premium to its reported net asset value (NAV). Its largest holding, Anthropic, is valued aggressively in private markets and shows weaker gross margins compared to previous tech leaders. Potential setbacks in AI development or increased competition could further reduce Anthropic's value and VCX's NAV. The analyst recommends selling VCX shares or selling call options expiring in 2026 to manage risk.

The Fundrise Innovation Fund (VCX) and its NAV premium provide context for financial market activity. For readers following Financials-sector stocks, here is Pluang's market snapshot as of Sep 25, 2026 16:01 WIB: Out of 85 priced US Financials stocks, 55 rose and 24 fell today. Notable movers include BBVA at USD 28.07 with a 1-day change of -1.40% and Pluang order activity of 93% Sell / 7% Buy, CLSK at USD 14.44 with +1.26% change and 56% Sell / 44% Buy, and RIOT at USD 23.76 with +1.19% change and 100% Sell / 0% Buy.

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