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Firsthand Technology Value Fund (SVVC) Message Board

  • broketrader21 broketrader21 Jan 31, 2012 8:06 AM Flag

    Old NAV

    I see everyone trying to figure out what there NAV is based on last reporting, saying it should be trading way up. If you look at the company holdings, they held about $1.5mln worth of QQQ puts as of the last time the NAV was announced. While those $1.5mln in puts all expired completely worthless.

    So I am wondering if they announced there facebook investment on the 23rd did it take days for this to move? im just skeptical of a pop and drop

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    • ..."those $1.5mln in puts all expired completely worthless."????...you can't really say that...the 10Q was for the period ending September 30...at that point they may have been profitable...and you don't know what they did between September 30 and the expiration date of the puts...and they haven't updated the NAV since September 30...another 10Q is due pretty soon, I believe, and should clarify things quite a bit...

    • The big news came on last Friday when the WSJ reported Facebook would be filing for an IPO. At this point it is just a rumor as Facebook has yet to formally announce. But if Facebook does do the IPO than SVVC's investment in Facebook will go up in value. I hope you understand that private valuations are lower than publicly traded valuation.

      If Facebook were to come out and announce they are NOT going to do the IPO then you would see downward pressure on SVVC as the Facebook investment would remain at a private valuation not a publicly traded valuation.

    • The January 23rd press release states that NAV was $84 million or $24 per share. This includes the writedown of the puts and any other investments.

 
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