Yup, definitely. An IPO is a liquidity event (money goes to owners) paid for by some group of individuals who believe they will make more money down the road by

Yup, definitely. An IPO is a liquidity event (money goes to owners) paid for by some group of individuals who believe they will make more money down the road by purchasing this stock. The way that those individuals arrived at that decision can either be through really technical analysis, or "I heard about it from my dog", or anywhere in between.