What's happening?
I have generally found new issues, or IPOs (initial public offerings) as they are called in the UK, to be an unreliable investment here. In the Far East they were often priced to be a success on the first day, but not so much that they were seen as undervalued.
But in the UK I have found that the greed of the advising banks and brokers over fees often provide generous returns for them and meagre ones for private investors.
This is a gross generalisation but I pass it out as a warning against such sales hype. Actually, with a newly floated business we should look at the longer term prospects of business growth and not as a punt for 'stags' on the opening day.