We don’t know that. We sometimes see small trades post IPO 100% higher than the IPO price but rarely would an investment bank turn down more money to give a bet

We don’t know that. We sometimes see small trades post IPO 100% higher than the IPO price but rarely would an investment bank turn down more money to give a better deal to a client. If there were 15 investors offering $100M at one time, they are going to be firm on the price they pay. A trade of 100 shares post IPO is not relevant. In fact, we did a bunch of SPACs because they offered better “price discovery” and we are seeing the results.