I have read this too a long time ago, and it always struck me as true. That's why I stopped wanting to invest in new IPOs. You're not "getting in on the ground

I have read this too a long time ago, and it always struck me as true. That's why I stopped wanting to invest in new IPOs. You're not "getting in on the ground floor" with them, they're usually for sale a few months after the IPO. Look at SNOW and ABNB for recent examples or GPRO for one from a while ago.