The stock market is in a massive speculative bubble. The ability to borrow on margin at 1% is one of the most-powerful forces to ever hit stocks.
Today’s IPOs look like they will be astonishing. The big one is Snowflake, which was priced at $75 at the start of the week but upsized to $120 yesterday. It’s indicated to open near $180.
Another is JFrog, which is indicated at $80 compared to the $44 IPO price.