PALM IPO was originally targeted for $38 but then by the time the opener came investment bankers and media (primarily CNBC) hyped it to $140 on the opening bell. Went to $160 first 3o minutes of trading then progressively fell below 120 same day and below 100 next day. Now sitting at $28! I'm holding 1000 shrs @ $140. This could have been you!
Investment bankers and media are very nuch responsible for IPO over evaluation whether it's to raise money for the co their promoting or not. It should be more tightly regulated by the Feds.