Was reported that many applicants who applied 1-19 lots of Global Logistics IPO price at $1.96 got 1 lot. With 1 lot, a rise of 1.28% is needed just to pay for sell commission. My trading rep told me is common to receive just 1-2 lots despite applying for many.
Why buy IPO? Get sucked in by the juicy story? In order to get max $ in ipo phase, many companies do their best project as best a financial in their prospectus. Is like people esp women who submit their best photo (esp clamor shots) in their resumes, passport etc. Real life person is usually 'duller'. My general rule of thumb is to discount 20% off such too good looking pictures.
Market will always be there. Good time to shop is during recession. I see an ipo like a new market/mall opening with hordes of people flocking there.