The big "pops" seen in new IPO trading in the late 90's and early 2000's were looked upon negatively by the issuer community because:

a)Executives and founders made too much money by taking their companies public

b)Companies struggled to come up with enough shares to meet demand

c) By deliberately underpricing the stock, investment bankers were causing companies to leave money on the table in the offering

d)The "pops" were signs of significant insider trading which undermines the entire system