Detailed Quotes of US Stocks IPO Opening Auction Analysis
IPO at-auction order is to estimate the opening price and trading volume during auction on the IPO day, thus understanding investors' interest, and predicting the opening performance of new stocks.
Newly-listed U.S. stocks will not be traded directly on the IPO day. Instead, they will enter an auction. During this time, investors can place orders, but those orders will not be matched by the exchange. Rather, a "crossed market" may occur, a situation when the highest bid price is higher than the lowest ask price. At this time, the exchange will calculate the corresponding reference price, at which the eligible orders will be traded later.