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Expected First Day Return

FreeCast	<1%	1- 15%	>15%
MDA Space	<1%	1- 15%	>15%
PayPay	<1%	1- 15%	>15%

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IPO	Votes	Cold → Hot	Result
FreeCast	91		Weak
MDA Space	6		Neutral
PayPay	52		Strong

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