Unless there is some steady amounts of good developments and a clear growth of revenue and signs of real products developed, any company would drop from the initial pop after IPO (there may also be a pop after direct investment by another company). But they tend to drift back under IPO price for quite along time. The long will need the flow of positive news to keep share price up. Otherwise, it will go back to IPO price.
Rebound time, page-208
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