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How is the max share price used by the broker when a customer indicates their interest for an IPO?
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User asks how brokers like Robinhood use the max share price specified by customers during IPO interest indication.
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Some brokers allow their customers to specify a max share price when indicate interest for an IPO. Examples of such brokers: Robinhood and E-Trade. Examples of brokers who don't let customers specify a max share price: Charles Schwab and Fidelity (or maybe that depends on the IPO?).
How is the max share price used by the broker when a customer indicates their interest for an IPO?
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