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Half of this year’s blockbuster IPOs are underwater, despite broad stock rally
There are 3 ways to go public now - traditional IPO, SPAC/blank-check mergers, direct-listings. Due to this competition, the IPO underwriters may be overpricing IPOs to lure business. Or, it could just be a market phase - hot IPOs bring on more IPOs, cold IPOs act as brakes.
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Or, it could just be a market phase - hot IPOs bring on more IPOs, cold IPOs act as brakes.