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Question re: reset time and first movement of an IPO'd stock

Posted by: remrej on Mar 24, 11:49

Something weird I noticed today ... BLAWH IPO'd yesterday at $30.  However, as of the time of this post, it has a price of $28.61 and the stock page says that it has changed -$2.51 today.

$28.61 + $2.51 = $31.12

In other words, the system thinks that at some point today, the stock was priced at $31.12.  I was under the impression that an IPO'd stock doesn't start fluctuating in price until reset.  

What's going on here?  The only way this makes sense is if a newly IPOd stock start flucuating in price just prior to reset - is that the case?

 





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