Second half of 2026? I would have thought earlier to preempt the bubble bursting. Perhaps they know the IPO would be a flop (like many in 2000) and want to avoid opening all circular deals and the books to the public.
and of course, hype is extremely valuable returns wise, and institutions play into that as well
I have given up trying to evaluate the market from sane fundamentals while grifters make money from pumping and dumping meme stocks.
Quoted for horrific wrongness.