Investors are expecting a roller coaster ride on IPO stocks.

投资者预见首次公开发行的股票股价将会大幅波动。

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Moreover, we use the DHS model to demonstrate that it is investors 'overconfidence that leads to the price reversal of IPO stocks 'prices.

同时，利用DHS模型，进一步阐释了由于投资者的过度自信而导致最终IPO股票出现价格反转。

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Often, after an initial frenzy on an IPO, the stocks later fall below their initial offering price.

通常来说，一笔IPO在经历最初的热捧之后，股价随后就会跌破发行价。

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The fact is, few buyers are willing to take on the IPO stocks of unknown technology companies.

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"Clearly Facebook drove the acceptance of the market, " accounting for a majority of recent trading in pre-IPO stocks on exchanges, says Christopher Yang, who specializes in technology at Grove Street Advisors LLC, a Millennium investor that advises pension funds on venture investing.

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Google pioneered this type of IPO for tech stocks way back in 2004.

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