Is anyone else watching the BitGo ($BTGO) IPO? Just did some DD

Is anyone else watching BitGo? With Circle (+168%) and Bullish (+143%) recently mooning, I decided to do some digging on this one. The Good (Why it might pump): \- Insane Growth: H1 2025 Revenue hit $4.19B (nearly 4x YoY). \- Real Assets: They hold $90B+ in custody (mostly BTC, ETH, SOL, XRP, SUI). \- Big Backers: Goldman and Citi are leading the deal. The Bad (Why I’m worried): Margins are Dead: Despite 4x revenue, net income dropped to $12.6M. Operating costs are eating them alive. Valuation: Expected 4B-5B. Priced for perfection. My IPO strategy: The quick flip. I’m treating this as a short-term flip, not a long-term hold. I’m treating this purely as a short-term arbitrage, not a long-term hold. \- Enter: At IPO or market open to catch the hype wave. \- Exit: If it hits +50% on Day 1, I’m selling. \- Stop Loss: If it breaks issue price, cut it loose. Verdict: Great narrative (First Custody Stock), but the financials are shaky. I plan to profit from the initial volatility, but I won't be holding this long-term. Thoughts?