What's scary about it? I think that's not at all unusual for IPOs. They frequently get an initial surge and then settle down somewhere in the vicinity of their initial offering price, sometimes higher, sometimes lower. It's known as the IPO Pop.Speaking of fear, this is scary:
https://www.cnbc.com/2026/07/13/spacex-spcx-stock-ipo-price.html
SpaceX stock sinks for a second-straight day, nearing $135 IPO price