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Ritter’s research shows that underpricing is de rigueur in IPOs, and on average, the shares jump 19% over what the chosen institutions paid by the end of the first trading day. “The ability to give their clients underpriced shares is worth a lot more than the 2% fees,” says Ritter. Were SpaceX to leap that average of 19% on day one, Wall Street’s customers would pocked a one-day, paper gain of $9.5 billion. The initial investors got their shares due to their status as the firms’ largest, commission-paying trading customers. In exchange for winning the super-cheat shares, says Ritter, they typically rebate about 30% of the one-day gain to the book runners who anointed them in future business. In SpaceX’s case, then, the two or three lead book runners would collect an extra nearly $3 billion (30% of the roughly $9.5 billion windfall). Let’s assume three lead underwriters. Each would garner a total as high as $120 million in fees, and another $1 billion courtesy of the super-discount pricing, for a total of almost $1.1 billion.
tyleo.comSubscribeSubscribeRSSThe Excommunicated Devs Making Games with AI2026-03-024 minute readOne of the most exciting communities in game dev right now is one that most people pretend doesn't exist. Nobody's sharing their work, because they used AI. In an industry with real concerns about job displacement and creative integrity, that's enough to get you written off.,更多细节参见heLLoword翻译官方下载
Scott Taylor (@scott2000)。业内人士推荐体育直播作为进阶阅读
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