Odaily Planet Daily reports that the share prices of recently listed crypto stocks Bullish, Circle, and Figma have all retreated from their early highs, seemingly failing to overcome the market trend of first-day surges often failing to sustain. However, Gemini Space Station, a cryptocurrency platform that went public on Friday, reserved nearly 30% of its IPO shares for retail investors, far exceeding the traditional 6% allocation. The stock closed up 14% on its first day at $32, giving the company a market capitalization of approximately $3.8 billion. Last month, the cryptocurrency exchange Bullish also allocated 20% of its shares to retail investors during its IPO. Sources say that a large retail allocation helps prevent even larger first-day surges.

Analysts believe this trend stems from a rethinking of IPO pricing strategies. While the surge in first-day prices seen by several large IPOs this year may seem positive, it actually means companies and early investors have missed out on billions of dollars in financing opportunities. Wall Street bankers are attempting to mitigate this by increasing retail investor allocations. (Wall Street Journal)