[alemanek]

Until recently companies that IPOed weren’t immediately added to the major indexes so there was a longer period for price discovery. This year that changed; so you have retirement funds that typically are more conservative acting as exit liquidity for these massive IPOs.

I would have less of an issue if the inclusion in major indexes was delayed 6-12months but we are looking at inclusion within like 5 days for some of these indexes.

[tonfa]

The float will get bigger as you wait tho, since it's common for early investors to be locked for e.g. 6 months. You can argue it's better to smooth the entry as float gets unlocked rather than being front run by all the hedge funds in a single day on a massive capitalization.

[ojbyrne]

The lockup periods are also being fiddled with: https://finance.yahoo.com/markets/stocks/articles/spacex-ipo...