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Matt Levine Live at Bloomberg HQ
Conversations with Tyler
What's Happening With the Pop?
The pop is not the same thing as the bank's fee. The bank is doing work to try to get to a reasonable price, and then they're selling it for 15 % less than that price. When you have that set of dynamics, no one is sad when the stock goes up, ever one side. If the stock goes down, why would you overprice it?
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