If you haven’t encountered this tomfoolery it’s where IPO underwriters do “market stabilization” at zero risk to themselves. The exact mechanics are covered by Matt Levine in his latest column.https://www.bloomberg.com/opinion/articles/2019-05-10/the-unicorn-worriers-weren-t-wrong …
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Funny you should mention this ...https://twitter.com/spencemo_c/status/1112015119343484928 …
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What’s your thoughts on where the bankers/company should try to price? Price for the pop, price at market, or sell them shares for as much as possible?
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There has to be a balance to appease multiple sides - the issuer should get a good enough price and the investors the bankers allocate the shares to don’t want the stock to get dumped immediately. Hence IPO pricing more art than science.
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