MarketsEquity MarketsInvestingOpinionWhy most new ‘can’t-miss’ IPOs witherThinking of riding the next big tech sharemarket float to instant riches? History has a brutal reality check for you.Ken FisherContributorWith SpaceX’s big debut fanning ongoing exuberance globally – despite recent declines – investors’ appetites are building for other big private firms set to take their shares public: Anthropic, Anduril, Firmus and more.Many would-be buyers envisage riding flashy upstarts to riches. But beware: most IPOs flop. History details that.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Latest In Equity marketsFetching latest articlesMost Viewed In Markets