Yesterday Alpha did not launch MEME, among the 4 that were launched, 3 had a market value exceeding 100 million. My view is that this cycle is still viewed this way, the real Alpha opportunities are in the market value range of 10-50 million.
From the performance of recent issues, Alpha listings are not completely without secondary Alpha effects, it's just that the surge in the market ended a bit quickly, and chasing highs can easily get you stuck at the peak of the phase.
It feels like it's between the main site spot and contract listings.