Where every number comes from

Every figure on the site comes from one of these sources. Nothing is typed in by hand.

The headline price is the token's market price on Solana. Charts use candles from the deepest pool paired with SOL, USDC or USDT; pools paired with memecoins are ignored.

Indexed pools on thin tokens can drift far from where the token really trades. When the pool is more than 5% away from the market price, the chart switches to Pretape's own 10-minute recording of the Jupiter price and says so under the chart. A recorded point more than 25% away from PreStocks' own price is treated as a bad read and replaced with PreStocks' price, so single-quote spikes never reach the chart.

Premium          = token price / PreStocks mark - 1
Implied valuation = token price x implied share count

The market price is a reference, not a fill. Liquidity on pre-IPO tokens is thin, so every minute Pretape asks Jupiter what a real $1,000 buy and sell would fill at. That gives an executable bid and ask per token, used in the trade panel.

Private companies have no earnings calls or public order book. The only hard references are prices someone actually paid or quoted. Pretape collects them as anchors: the latest primary round, tender offers, secondary marketplace prices reported in the press, pre-IPO perpetual futures, reported valuation talks and the PreStocks mark.

Each anchor is a company valuation. It is converted to a price per token with the share count implied by PreStocks' public data: the implied valuation PreStocks publishes for the token, divided by the token price.

shares           = PreStocks implied valuation / token price
anchor per token = anchor valuation / shares
token premium    = token price / anchor per token - 1
reference range  = [ min, max ] of current anchors per token

Worked example (illustrative numbers)

Rules that keep the range honest:

• Superseded. A newer primary round retires older anchors. They stay visible in the table but stop counting.
• Context. Real deals that are not current anchors appear in the Valuation tab for history and never move the range.
• No duplicates. Anchors of the same type within 1% in value and 5 days in date count once.
• Enough references. A range needs at least three current anchors spanning 10% or more. With fewer, the page lists the references without a range.
• Position. The token is above or below the range only when it is more than 3% outside it; near the top or near the floor means the top or bottom 20%.

All arithmetic runs in code, never in a language model. The one-line fair value verdict on each company page is generated from these numbers.

The mark is PreStocks' own reference price for each company's shares in private secondary markets, converted to a price per token. PreStocks sets and publishes it; Pretape reads it from PreStocks' public data and uses it as one anchor in the reference range and as the basis for the Premium. For how the mark is calculated, see PreStocks.

A Claude-based research agent with web search covers each company on two schedules: a news pass every 3 hours and a full pass once a day that also refreshes deals, valuation anchors and risks. It works from a fixed brief and returns structured data, not prose.

Stances. Bullish, bearish and neutral describe the likely effect of a story on the company's valuation. They are not recommendations to buy or sell the token.

Today's read is the agent's overall view of the company. It is built to be stable: a news pass can only change the stance when a new story points the same way, and a full daily pass re-evaluates it from scratch. A pass that finds nothing new keeps the previous read.

New since your last visit. Each story records when Pretape first saw it. Your browser remembers when you last visited, and stories found since then are tagged NEW. Nothing is sent to a server.

Logging in creates a Solana wallet for you through Privy, tied to your account. Its keys are secured by Privy and Pretape never sees them. At login you grant Pretape a signing permission so trades go through without a wallet pop-up. The server uses it only for the swaps and withdrawals you request.

Orders route through Jupiter across all Solana liquidity, including PreStocks' pool. The swap and the fee settle in one transaction: either both happen or neither does, and if the price moves past your slippage tolerance the whole transaction reverts.

• PreStocks tokens give economic exposure to private shares through a special purpose vehicle. Several of these companies have said they do not recognize unauthorized secondary transfers; each company page lists this under Risks when it applies.
• Private-market prices are sparse and can be weeks old. A reference range is only as good as its most recent anchor.
• The research agent can miss stories or misjudge a stance. Every item links to its source so you can check it.
• Liquidity is thin. Large orders can fill well away from the displayed price; use the quote, not the headline price.
• Pretape is information and a trading interface, not investment advice.

Anchor

Prices someone actually paid or quoted for the company: funding rounds, tender offers, secondary trades and perps.

Context

A real transaction in the company's shares that is not one of the current anchors. Shown for history, it does not move the reference range.

Implied valuation

Token price times the company's share count: what the whole company would be worth at this token price.

PreStocks mark

PreStocks' reference price for the company's shares in private secondary markets, set by PreStocks.

Reference range

From the lowest to the highest current reference price: last funding round, secondary markets, perps and the PreStocks mark.

Superseded

Older than the latest funding round, so it no longer counts toward the reference range.

Premium

How much the token trades above (+) or below (-) the PreStocks mark, its reference price for the same shares in private secondary markets.