not at their current valuation.

Exactly. The pre-IPO investors and employees will sell some of their shares now to take their profits in as retail now buys HCP at these prices, at a time of lots of uncertainty and 'fear' in the markets as of 9 Dec 2021. [0]

I'm expecting it to rise due to retail investor hype. I would avoid it for now at these prices at this time. We'll see after this period of uncertainty and after the lockup period expiring in 180 days after the IPO.

[0] https://money.cnn.com/data/fear-and-greed/