Michael Kao: Low-float IPOs and inelastic supply assets compared to dot com era

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Low-float IPOs push FOMO-driven demand

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Olga Shendetskaya

1 hour ago

Michael Kao: Low-float IPOs and inelastic supply assets compared to dot com era — Low-float IPOs push FOMO-driven demand

Michael Kao, CIO at Akadia Capital, draws parallels between low-float IPOs from the Dot Com Era and inelastic supply assets such as BTC, highlighting the impact of limited share float on market behavior.

Kao points out that as little as 3-4 percent of SPCX shares are available to trade, a dynamic he likens to the way FOMO-driven demand can push large volumes through a restricted supply, echoing patterns seen in both historic IPOs and certain crypto assets.

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Kao recently analyzed how AI-driven growth and risks from the Iran conflict are deepening divisions in the U.S. economy in a separate note. Earlier, he highlighted the decline of PRA as its value dropped without new information in a report on short candidates. Both instances reflect Kao’s focus on market reactions to shifting supply and demand factors.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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