Stock investing and raising capital as spectator sport. Complete with peculiar spectator sport journalism. I imagine the set of people who care about &quot;perceptions&quot; of how a stock does on the day of the IPO will be extremely narrow. The effect on the business fundamentals is going to be nonexistent. And in a few years&#x27; time, the share price will have taken on a life of its own, independent of the IPOs fading memory -- do <i>you</i> remember 18 May 2012?