> companies normally try to price it so it goes up about 20 percent on the first day Can someone explain this to me? Why would a company try to sell its shares

> companies normally try to price it so it goes up about 20 percent on the first day Can someone explain this to me? Why would a company try to sell its shares for less than they could get? When I see something like this - 44% up on the first day - I immediately think that this was a complete failure as an IPO, because the company left so much money on the table. Am I crazy? Or can someone set me straight.