Investing in the stock market involves risk. Please proceed with caution!

Investing in the stock market involves risk. Please proceed with caution!

Investing in the stock market involves risk. Please proceed with caution!

What Is US IPO Investing?

Before a company officially lists in the US, investors may try to pre-order shares in the initial public offering by participating in the IPO subscription process. If they receive an allocation, they can buy a certain number of shares at the IPO price. However, US IPOs are allocated through a placement system rather than a public subscription process. Allocations are usually reserved for institutional investors or individual investors subscribing with more than $1,000,000, which makes participation difficult for retail investors.

Many US stock trading platforms can work with underwriters or the listing company to obtain allocations, then lower the participation threshold and offer online IPO subscriptions to ordinary investors. So if your broker has received an allocation, you may be able to participate in the IPO there. If multiple platforms have allocations, you can subscribe through several of them at the same time.

Moomoo has a meaningful edge when it comes to IPO investing. You can transfer funds in advance to get ready, and you may also earn a relatively high yield while waiting. Quite a few people in our group have successfully received IPO allocations through Moomoo (with a much higher success rate than Robinhood). Right now, Moomoo is running a limited-time Lunar New Year promotion: if you register through our exclusive link, any deposit can earn you a $100 Amazon gift card. If your deposit meets the requirements, you may also receive up to $1,000 in NVDA. Idle cash can earn 8.1% APY. Be sure to register and deposit through my link to qualify for the offers above. Also, the extra $100 Amazon gift card is limited in quantity and available on a first-come, first-served basis, with only 50 spots available!

Is US IPO Investing Worth It in 2026?

2025 Review

The answer is yes, it can be worth participating. Looking at US IPO performance in 2025, the IPO market staged a strong comeback and the profit potential attracted a lot of attention. While profits are never guaranteed, a number of AI- and crypto-related listings this year definitely turned heads:

  • - Hot IPOs: Figma surged 250% on its first day, Circle jumped 168% on day one, Bullish rose 84% on its debut, Medline gained 40%+ on its first trading day, and Figure closed up 24%. Circle even soared more than 860% at one point during its first month after listing.
  • - Some sectors may benefit over the longer term: AI, blockchain, and high-profile companies continue to benefit from favorable policy support, and each may offer different long-term allocation opportunities.

Of course, IPO investing still comes with meaningful risks. The four main ones are:

  • Low allocation rates for hot deals: If the issuer cuts the deal size at the last minute, if hot offerings have limited shares available, or if demand is extremely strong, your allocation rate may be very low or you may receive no shares at all.
  • Uncertain allocation timing: US IPO allocation windows are tight, and allocations may not be completed before trading begins, which can delay when your allocation result is shown.
  • Uncertain trading availability: After allocations are announced, trading opens only after the underwriter confirms the final allotment. In some cases, trading access may not become available until after the stock has already started trading publicly.
  • Risk of breaking below the IPO price: US listing standards do not require strong profitability from issuers. If the market does not accept the company’s business model, the stock may fall below the offer price on its first day, and there is no daily downside limit.

Overall, on the one hand there is the opportunity cost of tying up funds for an IPO subscription; on the other hand, newly listed stocks can still break below the IPO price.

Future Listings

In 2026, investor enthusiasm for quality new listings, especially those tied to AI and crypto themes, is stronger than ever. The market expects several high-profile companies may be getting ready to go public, and new listings may still have room to continue their upward momentum. Below are some companies that may go public in the future, so it may be worth getting prepared now.

How to Participate in US IPOs

As mentioned above, retail investors can participate in IPOs through US stock trading platforms. For example, Moomoo, Webull, and Tiger Brokers all offer access to US IPO investing. Of course, not every IPO will be available on every platform; that depends on whether the platform’s vendor is part of the underwriting syndicate. Below, we’ll use the Moomoo US stock app as an example to look at Moomoo’s IPO features and advantages. You can use the same framework to evaluate other platforms as well. If you have enough capital, you can also subscribe through multiple platforms at the same time and maybe receive a few extra shares that way (some platforms have minimum-allocation mechanisms, so you may get at least a small allocation).

1. The cost of participating in IPOs through Moomoo is relatively low, which makes it fairly friendly for ordinary retail investors, mainly in two ways:

  • “$0 cash” participation: You can use your account’s cash buying power directly to subscribe to an IPO, and a CashSweep account can continue earning up to 8.1% annualized interest during the subscription process, without tying up extra funds.
  • “$0 fees” for IPOs: Not only are IPO subscriptions offered with $0 commission and $0 subscription fee, with no lock-up period after listing, but after listing you can continue to enjoy $0 commission trading for US stocks and ETFs, plus $0 contract fees for options (official pricing page).

2. Historical 100% allocation rate, low qualification threshold, and transparent process

  • - Based on past results, Moomoo customers received allocations across the board in hot US IPOs such as Bullish, Gemini, and Figure—100% of participants got shares.
  • - Moomoo IPO subscriptions do not require accredited or high-net-worth investor verification; a standard account can apply.
  • - The app shows the “subscription progress” and “estimated allocation time” in real time, avoiding a black-box process;

3. Smart trading features let you protect profits without watching the market constantly. Once the new stock starts trading, you can set conditional orders right away so you do not have to monitor it nonstop.

  • - Trailing Stop: As the share price rises, the sell trigger automatically moves higher, helping lock in profits while allowing for some pullback. This can be especially useful on listing day: set it at the open, and if the stock spikes and then pulls back, it can sell automatically and potentially capture most of the gain;
  • - Take-profit order: for example, “automatically sell when the share price is 30% above the IPO price”
  • - Stop-loss order: for example, “automatically cut losses if the stock falls 5% below the IPO price”

4. One-stop IPO research: you can review financials and gauge market interest in one place

Core information such as the IPO timeline, offering price, and financial data is all available through Moomoo. You can also check the discussion section to understand prevailing market views and investor sentiment, which may help you make a more informed subscription decision. During trading, there is also a wide range of professional data and tools available at no extra cost, including Morningstar ratings and Lv2 data.

Step-by-Step Guide

Illustrated Steps

Screenshots of the actual process

For example, for the earlier BLSH IPO subscription, first search for BLSH and enter its page.

Then select Subscribe.

Enter the subscription amount.

3. When are allocation results announced, and when can you trade?

Allocation results are usually announced on the listing day, so you’ll need to keep an eye on your holdings. Because the U.S. stock allocation timeline is tight, it is normal for the allocation result to appear only after the market opens. If you receive shares, you can view the allocated IPO shares in your U.S. stock account holdings. The path is: open Moomoo → Trade → U.S. Stocks Account → View Holdings.

On the first trading day of a U.S. IPO, the timeline is: market open → opening auction → trading. After the market opens at 9:30 a.m. Eastern Time, the new stock enters the exchange’s opening auction period, during which online trading is not available. Because exchange procedures and auction duration vary, this stage often lasts 1 hour or even longer. Trading may begin at any point during market hours, so you’ll need to monitor it yourself.

Summary

1. Open your account first: earn yield while waiting for IPO opportunities

For U.S. stock investors, the subscription window for U.S. IPOs is very short. If you want to capture hot deals, waiting until the last minute to open an account is often too late. Experienced investors usually open and fund their accounts in advance, then wait for the right opportunity. Moomoo’s Cash Sweep program lets you earn a limited-time 8.1% APY while waiting to trade, with no management fees, easy deposits and withdrawals, no currency conversion required, and automatic settlement for trading. In the current environment of Fed rate cuts, this yield is quite competitive, so it’s worth considering.

2. Excellent account opening bonus

Limited-time Lunar New Year promotion: register now through our exclusive link, and any deposit qualifies you for a $100 Amazon gift card. If your deposit meets the required tiers, you can also receive up to $1,000 in NVDA. Idle cash can earn 8.1% APY. Be sure to register and fund your account through my link to receive the offers above. The extra $100 Amazon gift card is also limited in quantity, first come, first served, with only 50 spots available.

[New Users]

  • Any deposit earns a $100 Amazon gift card (claimable in the Rewards Center)
  • First cumulative deposit of $500: receive $30 worth of NVDA stock -> funds must remain for 60 days
  • First cumulative deposit of $2,000: receive a total of $100 worth of NVDA stock -> funds must remain for 60 days
  • First cumulative deposit of $10,000: receive a total of $200 worth of NVDA stock -> funds must remain for 60 days
  • First cumulative deposit of $50,000: receive a total of $400 worth of free NVDA stock -> funds must remain for 120 days (200 issued after 60 days, remaining 200 after 120 days)
  • First cumulative deposit of $100,000: receive a total of $1,000 worth of free NVDA stock -> funds must remain for 180 days (200 issued after 60 days, 400 after 120 days, remaining 400 after 180 days)

[New Users] Cash Sweep account opening bonus

  • New users can join Cash Sweep upon opening an account. A coupon will be sent to the account and needs to be activated in the app.
  • Idle cash can earn 3.35% APY + a 4.75% APY booster for 2 months (supports deposits and withdrawals at any time + automatic trade settlement). This 8.1% APY applies only to the first $20,000 in cash deposits.