The phrase "leaving money on the table" refers to investors who pay more for a stock in the secondary market than was paid by those investors who were able to buy shares at the initial (offer) price on the IPO date.

Question

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The phrase "leaving money on the table" refers to the situation where a company going public (IPO) sets the offer price lower than the actual market value of their stock on the day of the IPO, resulting in the company not receiving the full potential value of their shares. It has nothing to do with investors overpaying for a stock in the secondary market.

The Phrase "Leaving Money on the Table" Refers to Investors