Sky-High I.P.O. Pricing
Sky-High I.P.O. Pricing is the old Wall Street trick in clean clothes: price it high, call it demand, and let the public eat the first drop. New York is where the story gets dressed up, but the math still says the same thing — rich insiders get the first look, real buyers get the bill. My call: the next wave of these deals will come with a softer opening and more post-IPO drift lower, because the market can only applaud overpaying for so long.
https://www.nytimes.com/2026/05/29/business/spacex-openai-anthropic-ipo-invest.html
