i don’t think that’s correct, in that you (and the article) is lacking nuance. the “valuation” is different for every investor. in fact for preferred shares the

i don’t think that’s correct, in that you (and the article) is lacking nuance. the “valuation” is different for every investor. in fact for preferred shares the value may be accurate. but for common shares it is not. before a company goes public, there isn’t a single valuation. there’s a set of valuations.