"When is making billions of dollars easier than falling off a log? The answer: When giant Wall Street firms like BlackRock and Fidelity get allocated large chunks of stock in white-hot companies. The following day those shares end up being worth vastly more than the investors paid for them.Why it matters: More money has been made this way in 2020 than in any prior year, even including the height of the dot-com bubble in 2000.Major companies are postponing their IPOs as a result, worried that they'd effectively be giving billions of dollars away to undeserving investors."
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At www.axios.com
At www.axios.com
