Moore Threads has been adjusting continuously, which has just reminded investors of the new stocks. Subsequently, Muxi, Yushu, and Changxin Storage will successively debut; the lessons from previous cases are worth noting — high premiums on new stocks can easily block subsequent funding space, and in the case of excessive enthusiasm, a rational anchoring of value is even more necessary. For technology IPOs without performance support, the price-to-earnings ratio is hard to reference, while the price-to-sales ratio has more benchmarking significance. Comparing with similar companies' revenue scales, if the revenue is small but the valuation is excessively high, blindly chasing can be risky. If you missed the new stock subscription, there is no need to regret; rationally viewing valuations can help avoid emotional traps and steadily seize opportunities.