You are suffering from survivorship bias. 18 months after an IPO, most companies are below the IPO price. Companies like Facebook and Google are the exception

You are suffering from survivorship bias. 18 months after an IPO, most companies are below the IPO price. Companies like Facebook and Google are the exception, they do not make the rule. https://www.iposcoop.com/last-100-ipos/ https://www.iposcoop.com/last-100-ipos/ shows that of the last 100 IPOs across all sectors, 63% are below their IPO price. Pandora, Twitter, Square, First Data, Lending Club, GoPro, Etsy, etc are all doing shitty. Technically Square is trading above its IPO price only because it got humiliated with having to price their IPO at $9.