FRGE

FRGE is currently trading as a definitive **Merger Arbitrage** play, effectively pinned to the **$45.00 acquisition offer from Charles Schwab** (announced Nov 2025). The 'Ground Truth' reveals the stock's low realized volatility (3.0%) and 'Perfect Stack' technicals are artifacts of the deal peg, with the price hovering just ~0.7% below the buyout price ($44.66 vs ~$45.00). While the **SpaceX IPO** hype (expected 2026) validates the strategic value of Forge's private market data, the primary driver is now deal consummation, not organic price discovery.