[nradov]

In most 401(k) plans the default funds don't invest in IPOs. Most workers and retail investors have no exposure here.

[matthewdgreen]

During the last crash, most 401k investors didn't think they had much exposure to mortgage-backed securities. Turned out they had lots of exposure to companies that held those securities. I don't know how much that's also true with these IPO stocks.

[themagician]

Most don’t. Not directly. But you don’t need most, just enough.