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by SagelyGuru
5133 days ago
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Because the stock price people are asked to pay at an IPO (or at any time) is based primarily on projections. So, 'Mom and Pop' got projections A which made $38 sound like a reasonable price, whereas the big boys got projections B which told them to wait till the price settles on $10. |
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That's only half true. $38 never really looked like a reasonable price.