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Exchange rule changes now fast-track low free-float IPOs into major indices with multiplied weighting, artificially inflating initial demand via mandatory ETF rebalancing.

Impact: Creates structural liquidity distortions that decouple initial valuations from organic fundamentals, requiring investors to model lock-up expirations and index mechanics.

— from Profit Sharing, Human Capital, and Modern IPO Mechanics · Mikroökonomen a.k.a. Mikrooekonomen· May 31, 2026