Why most new ‘can’t-miss’ IPOs wither

Why IPO hype always comes before the fall | The National

SpaceX jumped 67%, then fell below IPO price; 70% of US IPOs underperform by -20 to -35 points within 1-2 years. Founder/banker hype inflates valuations beyond fundamentals—tech leaders evaluating M&A or capital rounds should discount AI IPO froth and expect compressed returns.