$NMAX, which had its initial public offering (IPO) at $14, experienced significant price volatility, reaching $287 yesterday before dropping to $116 today. Despite this fluctuation, the stock remains up 4.5 times from its IPO price earlier in the week. Executives at the company faced challenges due to a lock-up period that restricted their ability to sell shares at higher prices. Some market participants have expressed skepticism about the IPO's legitimacy, labeling it a 'scam' while others are actively trading the stock, indicating a mix of optimism and caution among investors.