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The $SPCX holder list includes Harvard, Nvidia, and BlackRock, but chip concentration is high 📊 Many of these holdings come from early pre-IPO allocations rather than fresh secondary buying. $SNDK is driven by earnings expectations, whereas $SPCX relies on scarce float and structure. Heavy institutional backing signals confidence. The key test is whether the market can absorb these chips when lock-ups expire. $BTC