$PUMP below new issue price is another example of crypto issuers ignoring capital markets.
Underwriters “short” new issues so they can bid & ensure the stock trades up.
the http:/pump.fun team should have set $100-200mm of bids at .039 to ensure it doesn’t trade down
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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