...in a way, it makes me want to shy away from an IPO with a high amount of shares that are held long during IPO.
There are only so many active traders here. Assuming most active traders buy their shares long during IPO, how many are left that are going to come in a day or two, or more, later, after the IPO has unfrozen, and buy then? Seems like that would be a small percentage...
...not to manipulate, but wouldn't it make more sense for all of us to wait on an IPO like TOYS4, and buy not during IPO but on the day it unfreezes? Then price movement would be much greater?