The Benefits of IPO Flipping

IPO flipping is a casual way of saying that people buy IPOs and sell them within a few days. The weighted average outcomes from IPO flipping, they're extremely beneficial to investors. Even with the bad crop of 2020 and 2021 IPOs, they didn't really do a lot of damage to the history of IPO flipping. So it's been a very successful category. I do want to spend a couple of minutes on the SPACs because more than the metaverse and more than unprofitable hydrogen and EV companies and crypto things like that, SPACs are probably the best example of too much policy, too much risk appetite.