I'm waiting for the IPO; I was hoping we'd see less news like this prior. I'm not sure if plain shorting, or puts are the correct action; I suspect the former, as timing the latter is not reliable.
The public markets have floated multiple names up to $6tr marketcap/valuation
so the debuts at $1tr valuation from the private markets don’t mean anything
pre-IPO investors will just collar like they did SpaceX, nullifying any price volatility for them at the high share price, and giving them all the liquidity collateral they need for borrowing