Not true... I know of plenty of funds - Regal; Fidelity; et al that invest in absolute dog companies on IPOs that don't even generate revenues...
As an example off the top of my head - Regal bought KSS in it's IPO at 20c & day 1 sold them all for 14c ...
Some invest in more crap than you & I
LOLL
PET, page-12
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