This evening the offering price was set at 5, so obviously the stock fell to five. However with millions of new shares that big guys and mms are buying what this really did was it set a floor. A cost basis that the big boys are in at. Well now nobody wants to see this drip below 5. So thankyou fig for the gift. I took it and got greedy and bought more. Fig should open in the mid 5 range in the morning and we should see 6 sometime tomorrow.
Just because new offerings are set at $5 or above does not automaticaly mean that will five FIG any "floor" for its stock value. Market sentiment is much more important. Just because hold bunch of institutional morons what to buy at $5 or above does NOT guarantee any price floor. Otherwise, IPO will give any automatic price floor. GO FIGURE!