What to do with an IPO mistake?

I think I have made a rookie mistake with an IPO

Some would say take a profit early on if possible, while others would wait it out and see where there price settles.

I took a position in a recent IPO, Booktopia (BKG). I bought in above its IPO price of ($2.30), My entry is $3.00 .
I am now underwater by about 40 cents (Ouch)

I guess I just have to wait an see where the price ends up over the course of 2021.

Any strategies for trading recent IPO stocks would be greatly appreciated.