The stock market is a racket, and Wall Street is an organized crime syndicate.

The stock was offered to large investors on Thursday afternoon. There was a reason for it.

Secondary underwriters JPMorgan Chase and Goldman Sachs also revised their estimates downward. Investment firms that received advance notice of the lowered expectations called the last-minute change highly unusual.

Car-ownership (and market-timing) racket? - MarketWatch

Scott Sweet, senior managing partner at the research firm IPO Boutique, said one of his major hedge fund clients learned of the revised forecast, still bought the issue, then flipped it and went short on the opening day. Meanwhile, individual investors are left holding the empty bag.

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