Source: https://mochatrade.com/learn/glossary/pre-ipo-stocks

# Pre-IPO stocks
URL: https://mochatrade.com/learn/glossary/pre-ipo-stocks
Last modified: 2026-10-17

Pre-IPO stocks are shares of private companies before they list, priced in private funding rounds with no public order book. Some venues list contracts on names like Anthropic, and with [no exchange price to copy, the venue builds the reference](https://mochatrade.com/support/what-is-a-perpetual-contract-and-does-it-expire), which is the first thing to read before trading one. [See which pre-IPO names are listed](https://mochatrade.com/support/what-can-i-trade-on-mochatrade), and how [a listing day prints](https://mochatrade.com/learn/us-market-structure/how-us-stock-prices-form).

## Related terms

- IPO (US): https://mochatrade.com/learn/glossary/ipo
- Order book: https://mochatrade.com/learn/glossary/order-book
- SPY ETF: https://mochatrade.com/learn/glossary/spy-etf
- Direct listing / SPAC: https://mochatrade.com/learn/glossary/direct-listing-spac
- ETF creation and redemption: https://mochatrade.com/learn/glossary/etf-creation-and-redemption
- 24/7 trading: https://mochatrade.com/learn/glossary/24-7-trading