Welcome to Industry Focus, the podcast that dives into a different sector of the stock market every day.

It's Friday, October 4th, and we're going through the X's and O's of the IPO process.

I'm your host, Dylan Lewis, and I've got Motley Fool Premium

analyst Joey Salitro with me in the studio. Joey, you are quickly becoming a regular

here on the show. Hey, I wouldn't have any other way. Yeah, it's great having you on.

Today we are going to be talking about an email

that we got from a listener.

Andrea wrote in and wrote to us and said,

my broker recently offered pre-IPO shares of Peloton two days before it went public.

It's the first time this has happened and I wasn't aware it was even possible for a lowly individual

like me to get in on an IPO.

And she goes on to explain that she did some homework, decided Peloton was a no for

her, but wound up having a lot of questions after this whole process.

She writes in, this made me wonder a bit about how IPOs work. Maybe there will be

in next time with my broker, as it's never been an option for me before. I've never looked into it.

So I don't really understand the whole process. For example, why so many changes last minute?

How is it that we work got one pulled last minute?

Why do they never know what the IPO would be priced at

until the last minute, etc, minute etc it seems surprising to me that

there aren't stricter rules around this which which kind of led you and I to think like

wow we probably haven't ever done anything that breaks down how the IPO process works and why there is so

much vagary around the process up until shares actually price and hit the market.

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