It's not that easy to extract all the money from IPO in a market that's in the bubble. You need institutional investors to agree. They are somehow reasonable, a

It's not that easy to extract all the money from IPO in a market that's in the bubble. You need institutional investors to agree. They are somehow reasonable, at least compared to what happens on the first day. Once trading starts, you'll have robinhood crowd pumping the price, without any understanding of valuation. They only know that stonks go up, so better buy early! And hedge funds that understand that behavior will also make sure to get their piece of cake.