The Globe and Mail reports in its Thursday edition that after the big debuts of SpaceX and Apotex Health -- Canada's biggest initial public offering in five years -- appetites grow for other big private companies set to take their shares to the public: OpenAI, Anthropic, Databricks, Anduril and more. Guest columnist Ken Fisher says that many investors envisage riding flashy upstarts to riches. Most IPOs flop, however, and even the initial winners often lack staying power. The real hype surrounds U.S. tech-centric and artificial-intelligence-themed companies. Enthusiasm juices prices. The rub: Founders want to sell high - or get cheap capital. But IPO buyers want to buy low. Who likely knows more about a company's true value? Add investment banks' hype-filled marketing road shows and the knowledge divide broadens. Mr. Fisher's 1987 book, The Wall Street Waltz, said IPO actually stands for "It's Probably Overpriced." Some IPOs leap early -- Apotex jumped by 58 per cent in its first month, but most stumble. Through July 10, AGT was down 23 per cent from its March IPO price and Lumina had sunk 26 per cent from its April offering. SpaceX initially roared 49 per cent above its IPO price and is now below its offering price.