回答: 中国股市已陷入一轮长期熊市 由 订订 于 April 01, 2008 14:20:17:

when lock-up period expired, many investors sell their shares, expecially venture capital. investors who buy IPOs are the most optimistic investors. they set the share price. over time, when more information flows to the market, their marginal valuation will converge with mean valuation, therefore the share price drops. www.6park.com