LIT fluctuated around $2.3 after listing. I have completed the hedging and exited according to the original plan. But for those who did not sell or hedge in time, this price level may not be an ideal stop-loss point.

Let's first look at the financing aspect. The Founder Fund's last round of investment was $1.5B, corresponding to a reference price of $1.5. This means the secondary market already has about a 50% premium. Comparing to Aster's FDV size—at the same market cap level, LIT should be around $5 for it to be reasonable.

In other words, from the perspective of financing costs and comparable projects, the current price of $2.3 is in a gray area. It is neither a bottom zone worth bottom-fishing nor an obvious overvaluation requiring liquidation. For those who haven't acted yet, what they need more is patience, waiting for clearer signals to emerge.