Up, or down, there are always sales at hand in price movements. And, everyone has a price.
The common upward bump is partially because, why would you IPO if you didn't think there was long value? But also (I think) because in the first few days there isn't that much interest (volume of shares that are 1. tradeable and 2.
which people want to let go of ~ IPO price), so the supply is constrained and the supply/demand value dynamic is biased up.
Up, or down, there are always sales at hand in price movements. And, everyone has a price.
The common upward bump is partially because, why would you IPO if you didn't think there was long value? But also (I think) because in the first few days there isn't that much interest (volume of shares that are 1. tradeable and 2. which people want to let go of ~ IPO price), so the supply is constrained and the supply/demand value dynamic is biased up.