This is designed to create involuntary bag holders. The people who stay away from this IPO are betting that, while it may open at the target price, that can't last because there's no path to actual GAAP profitability. They are betting that this is an EBITDA fairytale of satellites with a short lifespan as valuable assets. But putting the company into indices right away holds all the passive investors hostage to this rug pull.
This is designed to create involuntary bag holders. The people who stay away from this IPO are betting that, while it may open at the target price, that can't last because there's no path to actual GAAP profitability. They are betting that this is an EBITDA fairytale of satellites with a short lifespan as valuable assets. But putting the company into indices right away holds all the passive investors hostage to this rug pull.
Would recommend anyone who sees this to read
https://news.ycombinator.com/item?id=47392550