Question 10 (3.334 points): The contrarian view of a large volume of equity issuance is bullish because the market is receptive to the increased supply of stock. It is also bullish because IPOs should do well in this environment. On the other hand, it is bearish because the market is receptive to the increased supply of stock. Furthermore, it is bearish because the new shares issued represent increased supply, which could put downward pressure on prices.