@jakeclaverqfop: There are three ways a company actually goes public, and most retail investors only know one. Traditional IPO: six-month roadshow, dilute shareholders, court the investment banks, and early investors are locked up for 90 days to a year before they can sell. Direct listing: skip the banks, existing shareholders sell straight to the market. That's why Coinbase dropped at the open instead of popping. SPAC: a public shell company acquires a private one and renames itself, which is how Evernorth became XRPN. Save this for the next IPO season.

Jake Claver

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Friday 09 October 2026 15:03:10 GMT