IPOs & New Issues

How companies go public and how to approach new stocks.

1. How an IPO Works — An initial public offering is the day a private company first sells shares to the public and starts trading on an exchange. Here is how the process works, who gets shares at the offer price and what happens on the first day.
2. Reading an S-1 — The S-1 is the most detailed look at a company you will ever get before it goes public. It is long, but a handful of sections tell you most of what you need. Here is where to look and what to look for.
3. IPO Pricing & First-Day Pops — Hot IPOs often jump on their first day, and the headlines follow. But a first-day pop is not the same as a good investment. Here is why pops happen, a real example from 2026 and what often comes next.
4. Lock-Up Expirations — After an IPO, insiders and early investors are usually barred from selling for a set period. When that lock-up ends, a flood of shares can become available. Here is how lock-ups work and how they can affect the stock.
5. SPACs and Direct Listings — A traditional IPO is not the only way to go public. Special purpose acquisition companies and direct listings offer different routes, each with its own risks for investors. Here is how they work.
6. Trading Recent IPOs — New stocks can be some of the market’s biggest winners, and some of its most painful losers. Here is a patient, rules-based approach to recent IPOs that avoids chasing the first-day excitement.