As an excercise for the reader, would be interesting to test the performance of a buy and hold strategy of stocks a.) Going below IPO price, b.) Going below 50%

As an excercise for the reader, would be interesting to test the performance of a buy and hold strategy of stocks a.) Going below IPO price, b.) Going below 50% IPO price. A second filter that can be applied is the time span between first day of trading of such event.