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Snowflakes, a cloud data warehousing firm, recently went public with an offer price of $120 per share. On the first day of trading, the stock
Snowflakes, a cloud data warehousing firm, recently went public with an offer price of $120 per share. On the first day of trading, the stock closed at $253.93 per share. Who benefited from this underpricing? [5 points] Select one: O a. Investors who received their share allocation at the offer price and the underwriters O b. The founders' holding of shares that are not part of the IPO and the underwriters O c. The company and the underwriters O d. The founders' holding of shares that are not part of the IPO and the company
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