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Retail traders, long considered dumb money by Wall Street, have changed investment dynamics in everything from individual stocks to crypto to one-day options. Now they’re throwing their weight around in the IPO market — and companies are welcoming them with open arms.
“We are oversubscribed in every single one that comes,” Quirk said. “The demand is always stronger than the supply. Issuers love that and want people who are fans of their companies to be recipients of an allocation.”
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