No, but they should have a stable exchange with which to go public. I'm not an economist, but to me it makes sense that factors such as confidence would greatly affect the price of a stock, not just in the short term. The price of a company's stock isn't just representative of its value - all the trading and expected trading of that stock plays a factor.

You could argue that it isn't a good system because it places less value on the companies being traded and more on the effects of trading itself, but within the current system I think people have a right to complain about a poorly-executed IPO.