$HOOD 50% drop from IPO high

I have been observing hot IPOs price action for a while. If it is a hot stock, there are 2 ways it usually goes:

1. Straight up drop 50% from the IPO day, then finds good entries there. Example: $COIN

2. Get super hyped and went to the roof. Made IPO high, then drop 50% and find good entries there. Example: $CRWD, $SNOW, $ZI

I believe $HOOD belongs to the second category. Current price is a low risk entry for those who are interested in owning it. Beware of the drama with the SEC about Payment for Order Flow and gamification of stock trading.