History repeating itself, the market never changes.
Dotcom, many ipo's, lastminute (lmc) was one that I remember well, maybe because I still have 35 share certs locked away in the safe.
The float was on Mar 14, 2000 - the placing was at 380p, oversubscribed, institutional took the bulk, over 250k retail applied to join in the guzzling at the trough, we got 35 shares each.
Day 1 went up to 511 closed 490, more retail (thankfully not I) then joined in the guzzling mainly because of being left out.
By mid April, trading at around 130 - by Nov 80p.
Five years later net profit, the best number so far, was £26.5m..... oh, in the red £26.5m that is.
"Clown show" is being nice, nothing changes.