[groundzeros2015]

And it was probably prudent to wait. The investors who wanted to take more risk could do that.

Retroactive reasoning with investments (if I just bought X) is insane.

[cj]

Indeed.

They IPO'd in 1980, yet their stock price was below the IPO price for the majority of 1980-1987.

It also fell to its IPO price for an extended period of time between 1996-1998.

You hypothetically could have waited 20 years after the IPO before investing without giving up theoretical gains.

[lmm]

> The investors who wanted to take more risk could do that.

What? How? By moving out of Massachusetts? I could understand banning such a speculative stock for e.g. pension funds or whatever, but blocking private individuals from buying with their own money seems insane.

[groundzeros2015]

You’re right. I read this as banned the state from buying it (pensions etc). I agree that’s absurd if you were not allowed to buy through a broker.