Sometimes, when spirits are boisterous, the equity markets become the scene of a giant dust-up. Companies rush to list, spying enthusiasm for their sector or for new stocks in general. It happened in the first quarter of the year 2000, and again at the beginning of 2021. Now, with SpaceX, OpenAI and Anthropic all eyeing initial public offerings, it is likely to happen again. In the past, moments of overheating have not ended well.
有时，在情绪高涨的时候，股权市场会变成一片厮杀战场。公司一旦看到了投资者对其所在行业，或是对新股整体的热情高涨，便争相上市。这样的情形在2000年第一季度出现过，在2021年年初也再次上演。如今，随着太空探索技术公司(SpaceX)、OpenAI和Anthropic都在谋求首次公开募股，很可能会再现当时的景象。过去，这类过热时刻的结局往往都不太理想。
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