Information expectations of IPOs as a factor of short-term profitability of financial assets

Subject. Information expectations of an IPO as a factor of short-term profitability of financial assets. Objectives. To analyze the factors that can influence the profitability of shares in the early stages immediately after the initial public offering. Methods. Regression analysis and nonparametric dependence estimation using the near neighbor method were used. Results. During the initial public offering, the investor does not have access to either a long quotation history or verified company statements for many years, so he has to rely on limited information. Under such conditions, the investor's behavior may deviate from rational, in particular, investors become sensitive to the advertising of a future initial public offering. It has been established that in Russian practice, attention to future initial public offerings on social networks is rather a negative factor for long-term investors, and it makes sense to choose stocks in the portfolio immediately after the placement from sectors that are not interesting to the mass investor. Conclusions. The effect of attention to the future placement of shares is manifested only in the period of 60 trading days after the placement, the likely reason is the outflow of speculative capital. The results of the study can be used to assess the potential returns from participating in the initial public offering of Russian shares, as well as to select stocks that have recently completed an initial public offering.