I really wonder who all the sellers were in the IPO. In my case, were I to get allocation from my broker (I didn't) I would be subject to a 15 day holding period. Presumably the institutional investors that got the lions share of the $68 allocation weren't subject to this holding period? I read somewhere else that ABNB employees were allowed to sell 15% of their holdings at IPO? Perhaps that's where another initial set of shares that hit the open market came from?