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In which of the following circumstances would you expect the first-day return from investing in...

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Question

Finance

In which of the following circumstances would you expect the first-day return from investing in an IPO premium to be highest?

a.

An IPO where there is high demand from investors that is issued in a year where many other IPOs are also issued.

b.

An IPO where there is low demand from investors that is issued in a year where many other IPOs are also issued.

c.

An IPO where there is high demand from investors that is issued in a year where very few other IPOs are issued.

d.

An IPO where there is low demand from investors that is issued in a year where very few other IPOs are issued.

e.

All IPOs have the same expected first day return.

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