> And you can just not buy the shares. It's very straightforward.
Sure, but the SEC exists, in theory, to make that decision one you can make an informed decision on, because con artists don't typically put a disclaimer in that says "this is bullshit".
You can't make an informed decision on it unless you do your own research and analyze an individual stock. Then it's up to you to decide if it's worth investing in. This is true for any investment. Just because you think something is bullshit doesn't mean it is. Maybe you're just wrong. Buy the security or don't.
> Most retail investors suffer from significant information asymmetry. We have regulations, in part, to mitigate this fact.
I don't disagree - however that's a separate point from the OP's it's all a scam and pump-and-dump sentiments and doesn't detract from any point I've made.
> A point you yourself might remember when arguing on the internet.
I know it feels great to write things like this but I don't care - my point stands alone and it's only applicable to you and what you wrote regarding valuations.
Then just don't buy the pump-and-dump and stick to ETFs.
Already explained things like lockup periods. Investment firms marketing the IPO also do. not. want. IPO prices to crater after the IPO. It makes them look bad, it harms their business, investors will avoid shops that loop them in on what turn out to be obvious scams or whatever. But even if they don't, who cares? They (I) are sophisticated investors. If I make a bad investment I'm an adult with means and I can live with the consequences.
Why didn't I buy the SpaceX IPO? Because I think it's a crappy investment! They tried to pump-and-dump but they sure couldn't catch me. See how easy it is?
You appear to have misunderstood the role of the SEC. They will investigate civil violations of securities laws but there has been no credible allegation of such here. They don't take responsibility for stock valuation.
Sure, but the SEC exists, in theory, to make that decision one you can make an informed decision on, because con artists don't typically put a disclaimer in that says "this is bullshit".