What guidance, if any, has management provided for the next quarter or the remainder of 2025?

Management guidance: The press release for Firsthand Technology Value Fund’s Q2 2025 results does not contain any forward‑looking statements or quantitative guidance for the upcoming quarter or the balance of 2025. The filing merely reports the NAV of $0.11 per share and the fund’s quarterly performance without projecting future capital deployments, NAV trends, or expected cash flows.

Trading implications: The absence of guidance heightens uncertainty around the fund’s near‑term trajectory, which tends to depress sentiment in thinly‑traded venture‑capital vehicles. Technically, SVVC has been trading well below its $0.15‑$0.20 historical range and is currently hovering near the $0.09–$0.11 support cluster. A break below $0.09 on volume could signal further downside, while a decisive bounce off the $0.11 NAV level—especially if accompanied by a higher‑than‑average volume surge—might indicate a short‑term rebound driven by speculative buying rather than fundamentals.

Actionable view: Given the limited liquidity, the lack of guidance, and the modest NAV, a cautious approach is advisable. For risk‑averse investors, consider staying out or limiting exposure to a small position size and monitoring for any management commentary in forthcoming 10‑Q filings or quarterly calls. Short‑term traders could look for a breakout above $0.12 with confirming volume as a potential entry for a quick swing, while a breach below $0.09 with accelerating sell pressure would be a clear trigger for a defensive exit or short‑position initiation. Keep an eye on broader market risk sentiment, as capital‑intensive VC funds are especially vulnerable to equity‑market pullbacks.