IPO Phase Two: Cooling-Off Period
Once BUBB has filed its papers, it waits. And waits. A very long 20-calendar-day cooling-off period is the norm, but it usually takes the SEC longer to figure things out. Why do we need to cool things off? Because pre-Depression, the "hot" issues were sold to poor, unsuspecting truck drivers who then proceeded to speculate in them with everything they owned because they so hated driving a truck for a living; and then they lost it all. It wasn't pretty.
And...
Looking for more? Why is this annoying box in the way? It's because you haven't paid for the course yet!