On the first day of listing, Hong Sifang pumped up 2200% in intraday trading, highlighting the scarcity of new stock issuance and the space for price arbitrage.

Golden Ten Data reported on November 26 that the intraday increase on the first day of listing of the new stock N Red Sifang once exceeded 2200%, and the last highest increase exceeded 2000% was Qiangbang New Materials, which was listed on October 11. After experiencing a wave of "A-share strict selection", the "leaders" who can be successfully listed this year can be described as scarce. However, judging from the later performance of the new stocks, after the initial speculation, most of the stock prices of the new shares fell sharply. Market participants reminded that the current pricing of new stock issuance is underestimated, and the phenomenon of frequent speculation of funds using the Arbitrage space is worth following.