By the time a company finally comes public, the hype around the IPO in some ways is a peak in sentiment, and as a result, the shares only have one way to go, which also may provide a bargain purchase later.
At Traders Expo New York, Zachary Mannes on Elliott Wave analysis and where he sees a pullback, breakout. We're trading miner stocks. I have a theory
What we know about 5th waves is that once the stock completes that wave, it usually retraces back towards the 50%-62% retracement from its high. As we have seen, most of these recent IPOs dropped to approximately 50-62% of their IPO prices or highs seen not long after their IPOs.