I believed that stuff we were taught in high school back in the days before "Social Studies" supplanted history, geography and civics.
I really don't want to talk only about political things. I really want merely to be left alone to follow my own way.
It makes me sick to have to defend them, But: EVERY IPO starts like this. There is a pent up demand that is released suddenly amid much hype.. Even long term survivors are upside-down at this point. But the point of most IPOs is to raise capital for a physical infrastructure. The purpose of this one was to harvest the founder's rewards. Not a good reason for an IPO. If people would buy stocks with a track record of dividends rather than try to surf the bleeding edge. If they would only treat stocks as an on-going profit machine rather than a dice roll, we would all be better off.