I used to work at a tech company that went public. IPO day was electric: people were checking the stock price every five minutes, doing mental math on their options, texting screenshots to their families. The stock opened strong. At the moment, we all loved our online statements. Then came the lockup period. Six months where employees couldn't touch their shares. By the time we could finally sell, the stock was down 40% from the IPO price. Most people held. "It'll bounce back

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