A reasonably priced IPO is taking a long time to get subscribed fully in the retail segment now. But when the market euphoria was on over priced IPOs got subscribed in lightening speed.
Most of the investors( I should call them traders rather) follow a group behaviour. They either are too greedy or too fearful. Both are not great attributes for a seasoned investor. As a famous quote goes " We should be fearful when everyone is greedy and be greedy when everyone is fearful"