[Since 2019, the mid-to-long-term performance of newly listed IPOs has generally underperformed the market] Odaily Planet Daily reports that GSR's Head of Strategic Communications, Frank Chaparro, posted a statistical chart from Apollo Global Management on X regarding IPO investment returns. The chart illustrates the market-adjusted average return rate within three years of U.S. IPO stock listings from 1980 to 2024. The data reveals that IPO stocks have generally underperformed the market in the mid-to-long term after listing, with this trend being particularly pronounced during the period from 2019 to 2024. Frank Chaparro commented: 'Since 2019, participating in IPOs has consistently been a losing bet.'