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IRA
Why did I only receive part/none of my IPO or Secondary Offering Order?

When you place an order for an IPO or Secondary offering you are not buying the stock; instead, you are placing an COB (Conditional Offer to Buy). When placing a conditional offer to buy, it is never guaranteed that you will receive your entire order. Depending on the stock's demand, your past IPO participation, and other factors, you may receive less than your indication or none.

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