And while it would be a mistake to say that the stock could have opened at that highest price, it's safe to say that if Robertson Stephens had done a better job of gauging demand, millions of dollars that went into traders' pockets would have gone into Pixar's vaults instead.
Robertson Stephens did not do a particularly good job of calculating demand.
Since these rules are being issued as interim rules and were not previously published through a notice of proposed rulemaking, the Departments were not required to prepare an initial or final regulatory flexibility analysis under the act.