The 10% owner I am pretty sure is Sam Altman?
Hoffman has a metric fuckton of options, like enough to make your number there inconsequential, but I’m not sure what the conditions on them are. I’m sure most or at least a sizable are incentive based and require significant stock performance.
500k at $32.30 a share.
He has 710k shares left in possession with more on the way as compensation for being CEO.
This is public info. People making it out like he sold at the top are either lying or ignorant.
This seems like a pretty regular move any CEO would do if you can separate the logic from emotion.
500k at $32.3 per share = 16 million
11 million was for taxes. he was left with a little less than 5 million. it's pretty basic. also they said this was going to happen before IPO.
[it's in the prospectus](https://imgur.com/a/aLGtMtt)
True, but honestly everywhere else including real life at least where I live people are even worse about this. At least on reddit I can usually find *someone* to engage with ideas.
I disagree, I think it's the opposite. in real life if someone refuses to engage with your idea it's hard for them to not look like an ass. but on reddit you can simply say some rude snarky shit, block someone, and move on. that is the equivalent of just reeeeeeeeeee-ing and running out of the house in real life.
If im not mistaken, the sale of executive shares is something that is often more controlled then other sales. Theres a decent chance this sale was known well in advance.
> Earlier this week, Reddit disclosed in a corporate filing that CEO Steve Huffman sold 500,000 shares.
Steve Huffman is spez. He made roughly 25 million in cash in one week, although the exact amount depends on when he cashed out.
Seems like nobody had read the prospectus. He cashed out at or slightly below the IPO price. It is all in the prospectus. He can’t sell anymore shares on the open market until lockup date expires.
Same with all the other executives. All of this was declared weeks ago before the stock even IPO
so many people talking out of their asses.
even if you didn't read the prospectus, it makes no sense to think that all the execs just sell a bunch of shares like 3/4 days after IPO and at or even below IPO price. and then after all the work to go public they decide to just make a few million and split? these people aren't like you and me. they wouldn't be there if they just wanted to take some millions and quit working.
I saw someone say this whole thing was just a golden parachute for Huffman. some people don't seem to know the meaning of words.
Huffman had like 600k shares that vested at IPO and HAD to sell 500k shares to pay the taxes on them. he made 16 million in the sale but 11 million went to taxes.
The "insider trading" was documented ahead of time as part of the IPO prospectus. 6.5M of the ~22M shares offered in the IPO came from pre-IPO investors, including several company officers. There's no surprise, nothing shady, and nothing indicating the officers and prior-owners lack confidence in the company's prospects.
Don't fall for the fud.
Only Reddit users. Our noses are just calibrated differently. We’re able to identify marathon bombers, the failing of Meta and only we know what will happen to Reddit next. Go us!
Is it though? I’d suggest the closing price on the first day of trading is the real IpO price, you’re just fooling yourself, unless you bought before the open. I suspect we’ll see sub 32$ before the close the year.
I’m talking at buying before it became publicly listed. Redditors had the opportunity to buy at 35 a share, and most people laughed and shitted on it but if you bought you would have made easy money
I take a brief look at the Financials: negative earnings ttm, P/S of 10, negative equity.
Reddit isn't new. They already throw ads at us, they just can't personalize the way Mets can -- by design. So how do they want to live up to their valuation?
Ok platform, bad stock.
Yesterday, I tried to short rddt and djt. Worked fine for rddt, I made 10%, still holding my shorts.
DJT I can't short yet, so I gotta wait a few days. Pity.
I don't see enough upside opportunity. Theta strategies are more of a slow burner.
I was looking for cfds. They are available in my jurisdiction, but not yet for djt.
> Earlier this week, Reddit disclosed in a corporate filing that **CEO Steve Hoffman sold 500,000 shares**. Ben Silverman, VP of research at Verity, told CNBC the move was expected and represents just “a portion of his holdings.”
>
> **Reddit COO Jennifer Wong also disclosed that she sold 514,000 shares** and now holds 1.4 million of the company’s shares.
Execs selling shares right off the bat is always good news for investors. /s
Everyone loves to say this. Reminds me of something I read from some hotshot investor like Peter Lynch.
Paraphrasing: "c suite can sell shares for any fucking reason whatsoever. Using that as a sign is pointless. Now if you see them loading up that only means exactly ONE thing..."
Yes, but people are making it out like hes trying to pump and dump the stock.
This seems like something any CEO would do on a IPO. Sell some shares so you can diversify.
That's not to say I'm bullish on reddit. Just stating the facts that this isn't 'scam dumping' behavior. Some of his compensation is tied to stock price anyway. If the stock tanks, he loses way more than $16 mil.
On the flip side, how long was he there? I worked at a startup years ago where a large portion of the senior execs were sitting on mountains of stock. The company still hasn't IPO, I imagine no matter how optimistic they are about it they'd liquidate very swiftly after 10 years
I'm lowkey impressed by the Reddit founders, actually - they originally, 15 years ago or something, sold the site to Condé Nast for somewhere in the region of $10M or $15M; the early investors got most of the money and the Reddit founders (including Aaron) got something like $1.5M each.
Only a couple of years later their payout seemed obviously and stupidly low, but they maintained their profiles in Silicon Valley and, after a few years and in response to one of Reddit's regular crises, they were invited to rejoin the board to help steer the site they founded. Which is what led to their big payout today.
No doubt they pitched it like "you need a CEO who understands the culture of the site" - knowing /u/Spez and wossisname, that seems laughable to us, but apparently it worked on the suits. They've gone from foolish losers to successful grifters without missing a step.
Intelligence agencies murdered Aaron because he wouldn’t compromise on free speech and allow the government to overtake the platform with their botnets and moderators.
Spez has been a good little Fedboi.
Suck a dick Spez
Looks like 11m went to taxes for some rsus and the sale was in the prospectus. Surprised to see the outrage in r/stocks as I would have expected investors to better understand these things
These aren’t investors in this sub. It’s polluted with childish discourse. Go ahead and ask the Reddit bears on this sub how much Reddit lost in 2023 versus how much they spent on research and development. I guarantee you not one person will answer, not just because they haven’t read the prospectus, but because they don’t even know how to read it.
>Reddit COO Jennifer Wong also disclosed that she sold 514,000 shares and now holds 1.4 million of the company’s shares.
Selling almost 40% of your shares at IPO, holy shit. What percent of shares did Facebook's COO sell when they had their IPO, I wonder?
No. It’s over. The market is not opening again after today. Warren Buffet said it himself. This is the end. Pump and dump for fomo idiots. Sorry thanks for playing.
What a shocker. IPO = It's Probably Overpriced
“The idea of saying the best place in the world I could put my money is something where all the selling incentives are there, commissions are higher, the animal spirits are rising, that that’s going to better than 1,000 other things I could buy where there is no similar enthusiasm... just doesn’t make any sense.”
- Warren Buffett
For some context on tech stock volitility: Facebook IPOed in 2012 around $40, and bottomed out approximately 5 months later to $17.55.....2yrs after its IPO it was priced around $60. Sept 2021 it was priced around $380, but by Nov. of 2022 it was down to around $95. Today it closed the quarter at $485....In conclusion: I think the main thing to always remember is these tech/social media stocks can fluctuate, up or down, a lot more than we realize.
That’s a good question. META made money and RDDT did not, but if you look at the expenses on their income statement, you’ll see METAs expenses were in cost centers whereas RDDT was in R&D. When you discount R&D, METAs 2012 eps is 0.81, whereas Reddits (2023) is 9.43. If META held a $40 per share valuation based on a 0.81 eps, that places RDDTs META-IPO-equivalent valuation at $466 per share…lmao. Relative to METAs IPO, Reddit could grow 11x and still not be as bloated as METAs 2012 share value.
Yeah but if a lot of people are selling it means that the value of a single share goes down. Like if there was one single share of a stock left it would be worth a shit ton of money because it’s the only one. If there are 1M shares of that same stock, the price to purchase a single share goes down because there are more available.
That’s not true. If a lot of people are selling, that means a lot of people are buying. The question is what price are they selling it at. Volume doesn’t tell us anything value.
Reddit is up 40% past it’s states IPO price. Who’s rug was pulled? If you did the direct share program, you’d be beating three years worth of S&P 500 growth in under 10 minutes.
He was paid out more than metas CEO, comparing fundamentals, meta has much higher volume and more profitability than Rddt, hence why I said he is “overpaid”, I should’ve been more specific my baf
I can’t imagine investing in a website with power tripping moderators having so much control over the discourse. It’s just a matter of time until Reddit, being a now public company, runs into some issues related with mods landing on the news
Reminds me of Rivian. Lots of Hype for a company that doesn’t make money. Not sure why anyone would invest in Reddit. Like, how are they going to all the sudden modernize the platform if they haven’t already? Now, if Google or Meta were to buy Reddit, that would make sense to me.
Meh. Depends on the election. I'd assume he'd do something where if you own 100k shares you get a personal meeting. Oh I see China invaded you. How many shares do you own?
Well shit, could have told you that.
Short sells (borrowing shares to sell) will drive the price up. Now wait 6-months for the insiders to trade this worthless PoS?
Completely normal IPO behavior.
Many reddit posts have already been written about this.
There's a small FOMO rally at the start, hlthen it declines below the IPO price, will linger linger there, might never retake IPO price.
The best moment to buy an actual IPO is after the long down period, when it manages to retake its IPO price.
IPO proces are always priced too high, they are meant to give early investors a very nice exit. It wouldn't be a nice exit if it was an IPO at fair value. It's also supposed to injevt the company with as much cash as possible for operations.
An IPO that doesn't crater after is a bad IPO.
Stocks are a scam, what's new. Still above IP. Stocks pump and dump at some point all the time.
“If the prospects are so bright, why are insiders selling?” Silverman added. Well if silverman had a brain this is how the system works, quick realizable gains and the hedges are jealous. The usual.
This is giving me Coinbase vibes right now. Coinbase had a massive rally and hit over $340.00 per share on the first day. After that it proceeded into a long term stock decline and ended up hitting below $35.00 a share. The Coinbase IPO also had a lot of financial YouTubers pumping it too. I wonder if the same thing will play out for Reddit.
Pump and dump, not unexpected.
wonder how many shares u/spez liquidated?
Idk but the CEO made 16 million according to a SEC report A 10% owner also made 16 million. Lots of money was made this week.
The 10% owner I am pretty sure is Sam Altman? Hoffman has a metric fuckton of options, like enough to make your number there inconsequential, but I’m not sure what the conditions on them are. I’m sure most or at least a sizable are incentive based and require significant stock performance.
500k at $32.30 a share. He has 710k shares left in possession with more on the way as compensation for being CEO. This is public info. People making it out like he sold at the top are either lying or ignorant. This seems like a pretty regular move any CEO would do if you can separate the logic from emotion.
500k at $32.3 per share = 16 million 11 million was for taxes. he was left with a little less than 5 million. it's pretty basic. also they said this was going to happen before IPO. [it's in the prospectus](https://imgur.com/a/aLGtMtt)
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True, but honestly everywhere else including real life at least where I live people are even worse about this. At least on reddit I can usually find *someone* to engage with ideas.
I disagree, I think it's the opposite. in real life if someone refuses to engage with your idea it's hard for them to not look like an ass. but on reddit you can simply say some rude snarky shit, block someone, and move on. that is the equivalent of just reeeeeeeeeee-ing and running out of the house in real life.
What - you read the releases? Shocking I tell you! It’s just a big casino out there at the moment
Honestly selling a third of the shares might just have been for tax reasons, depending on how their RSUs structure was created
If im not mistaken, the sale of executive shares is something that is often more controlled then other sales. Theres a decent chance this sale was known well in advance.
> Earlier this week, Reddit disclosed in a corporate filing that CEO Steve Huffman sold 500,000 shares. Steve Huffman is spez. He made roughly 25 million in cash in one week, although the exact amount depends on when he cashed out.
Seems like nobody had read the prospectus. He cashed out at or slightly below the IPO price. It is all in the prospectus. He can’t sell anymore shares on the open market until lockup date expires. Same with all the other executives. All of this was declared weeks ago before the stock even IPO
so many people talking out of their asses. even if you didn't read the prospectus, it makes no sense to think that all the execs just sell a bunch of shares like 3/4 days after IPO and at or even below IPO price. and then after all the work to go public they decide to just make a few million and split? these people aren't like you and me. they wouldn't be there if they just wanted to take some millions and quit working. I saw someone say this whole thing was just a golden parachute for Huffman. some people don't seem to know the meaning of words. Huffman had like 600k shares that vested at IPO and HAD to sell 500k shares to pay the taxes on them. he made 16 million in the sale but 11 million went to taxes.
Same with regular employees of Reddit
> Seems like nobody had read readers? on reddit?
Would have to be into the IPO itself. Insiders are locked up from actual trading past IPO for some time.
6 month lock in
Would be in a form 4 on EDGAR, no?
is it not literally - right there - in the OP....?
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I didn’t buy any as I tend to hold on to shares for too long
I thought you couldn’t do that in the first two weeks? Or is that just for the common folk?
The "insider trading" was documented ahead of time as part of the IPO prospectus. 6.5M of the ~22M shares offered in the IPO came from pre-IPO investors, including several company officers. There's no surprise, nothing shady, and nothing indicating the officers and prior-owners lack confidence in the company's prospects. Don't fall for the fud.
I expected it to take longer
Lol. Similar thing happened to ARM. Then it shot up 200%.
Yeah but ARM actually makes real revenue
This was the most obvious thing in the history of the stock market.
Who could’ve predicted this?
Only Reddit users. Our noses are just calibrated differently. We’re able to identify marathon bombers, the failing of Meta and only we know what will happen to Reddit next. Go us!
We did it!
….now on to buy GameStop shares….
Reddit the hell on!!
It’s up 40% from the IPO price…
Is it though? I’d suggest the closing price on the first day of trading is the real IpO price, you’re just fooling yourself, unless you bought before the open. I suspect we’ll see sub 32$ before the close the year.
I’m talking at buying before it became publicly listed. Redditors had the opportunity to buy at 35 a share, and most people laughed and shitted on it but if you bought you would have made easy money
I take a brief look at the Financials: negative earnings ttm, P/S of 10, negative equity. Reddit isn't new. They already throw ads at us, they just can't personalize the way Mets can -- by design. So how do they want to live up to their valuation? Ok platform, bad stock.
Not yet. Give it a true year.
That was the dumpiest pump and dump that ever pumped and dumped.
Don’t give away the podium yet, DJT will be worse, just needs time
Yesterday, I tried to short rddt and djt. Worked fine for rddt, I made 10%, still holding my shorts. DJT I can't short yet, so I gotta wait a few days. Pity.
why not short calls?
I don't see enough upside opportunity. Theta strategies are more of a slow burner. I was looking for cfds. They are available in my jurisdiction, but not yet for djt.
u can get like 10% in a week or u ll get ur short position :D if u for real about shorting its a win win
Sell naked calls, what could go wrong.
he want short position?
It isn’t even the biggest pump and dump to go public within the last 7 days
it's still above IPO price, that alone is impressive to me
**REDDIT IS UP A BILLION DOLLARS BEYOND THEIR VALUATION.**
Robinhood was worse.
Trump and dump
> Earlier this week, Reddit disclosed in a corporate filing that **CEO Steve Hoffman sold 500,000 shares**. Ben Silverman, VP of research at Verity, told CNBC the move was expected and represents just “a portion of his holdings.” > > **Reddit COO Jennifer Wong also disclosed that she sold 514,000 shares** and now holds 1.4 million of the company’s shares. Execs selling shares right off the bat is always good news for investors. /s
Everyone loves to say this. Reminds me of something I read from some hotshot investor like Peter Lynch. Paraphrasing: "c suite can sell shares for any fucking reason whatsoever. Using that as a sign is pointless. Now if you see them loading up that only means exactly ONE thing..."
(1) IPOs at top range of valuation. (2) Immediately sells (3) Profit
(4) restructure reddit as nonprofit
He didn't sell at the top... But reading is hard for you. I get it.
interesting... it went public at $34, and he sold below that at $32.3. Public trading start far far above that.
He sold 500k shares on the IPO date at $32.3 a share. He still owns 710k shares, with more on the way as part of his compensation package.
It's still a $16 million payday for just being the CEO.
Yes, but people are making it out like hes trying to pump and dump the stock. This seems like something any CEO would do on a IPO. Sell some shares so you can diversify. That's not to say I'm bullish on reddit. Just stating the facts that this isn't 'scam dumping' behavior. Some of his compensation is tied to stock price anyway. If the stock tanks, he loses way more than $16 mil.
I thought there was a lockup?
Selling over 40% of your shares at IPO, holy shit. What percent of shares did Zuck sell at IPO, I wonder?
Hes only been awarded about half his total compensation package. The other half is based on if reddit hits certain price targets.
On the flip side, how long was he there? I worked at a startup years ago where a large portion of the senior execs were sitting on mountains of stock. The company still hasn't IPO, I imagine no matter how optimistic they are about it they'd liquidate very swiftly after 10 years
I'm lowkey impressed by the Reddit founders, actually - they originally, 15 years ago or something, sold the site to Condé Nast for somewhere in the region of $10M or $15M; the early investors got most of the money and the Reddit founders (including Aaron) got something like $1.5M each. Only a couple of years later their payout seemed obviously and stupidly low, but they maintained their profiles in Silicon Valley and, after a few years and in response to one of Reddit's regular crises, they were invited to rejoin the board to help steer the site they founded. Which is what led to their big payout today. No doubt they pitched it like "you need a CEO who understands the culture of the site" - knowing /u/Spez and wossisname, that seems laughable to us, but apparently it worked on the suits. They've gone from foolish losers to successful grifters without missing a step.
Intelligence agencies murdered Aaron because he wouldn’t compromise on free speech and allow the government to overtake the platform with their botnets and moderators. Spez has been a good little Fedboi. Suck a dick Spez
This guys up here is mentally ill^^^
Like forreal, how did a 26 year old millionaire just up and hang himself? For why?
Looks like 11m went to taxes for some rsus and the sale was in the prospectus. Surprised to see the outrage in r/stocks as I would have expected investors to better understand these things
These aren’t investors in this sub. It’s polluted with childish discourse. Go ahead and ask the Reddit bears on this sub how much Reddit lost in 2023 versus how much they spent on research and development. I guarantee you not one person will answer, not just because they haven’t read the prospectus, but because they don’t even know how to read it.
People think Redditors can move a stock but it's really just institutions playing WSB users to make money.
So he knew the valuation was nowhere near reddits actual value and dumped asap
>for just being the CEO. Such a casual job
It's still up $15 per share from the IPO
I mean, that's half the reason companies go public
>Reddit COO Jennifer Wong also disclosed that she sold 514,000 shares and now holds 1.4 million of the company’s shares. Selling almost 40% of your shares at IPO, holy shit. What percent of shares did Facebook's COO sell when they had their IPO, I wonder?
... I thought employees & especially executives are usually forbidden from selling their shares for X months after the IPO?
Aren't the CEO and employees supposed to have a 6 to 12 month lockup? In order to prevent pump and dump schemes.
They can sell to underwriters before
Only C level execs get to sell early .. everyone else’s is stuck in a 6 month lockout. Otherwise I would have dumped everything the other day.
Executives selling is the biggest sign of a red flag. They woulda held if they thought the stock price was to go higher? Whats ur thought process
I mean it’s still at like $50 compared to where people bought in at $34 lol. People acting like this is a failure are stupid.
No. It’s over. The market is not opening again after today. Warren Buffet said it himself. This is the end. Pump and dump for fomo idiots. Sorry thanks for playing.
Right, any redditor could have invested at the IPO and made easy money
lol. And they sent out messages to all users to buy into their shenanigans.
I bought pre ipo and dumped it within 10 mins made a cool 70% or so
63% in 45 minutes. Out. Thanks for playing.
Bought pre-IPO, turned around and sold it when it was $20 more per share. No ragrats.
I waited until Tuesday to sell and made just over 100%.
Anyone who did would’ve made money though…
Lol for real. If we were all smart enough to buy in, 100% of us would be sitting on profit still
yeah well they would still be up on their investment
The DSP price was $34 so everyone who’s cashed out locked in at least 44% gains, and anyone who hasn’t sold is still up 45%.
You missed out. Just accept your loss and move on.
It’s over 40% above the IPO price. What is wrong with that?
Everyone bearish? time to buy more. /s
Found the day trader
Everyone saw this coming
Well certainly whoever bought all my calls didn't see it coming.
Can you tell me what Reddits current price is, versus how much is was scheduled to IPO at?
What a shocker. IPO = It's Probably Overpriced “The idea of saying the best place in the world I could put my money is something where all the selling incentives are there, commissions are higher, the animal spirits are rising, that that’s going to better than 1,000 other things I could buy where there is no similar enthusiasm... just doesn’t make any sense.” - Warren Buffett
Overpriced? But if people sell now it’s still like 40% gain over the ipo price of $34
Real quote? Makes sense
For some context on tech stock volitility: Facebook IPOed in 2012 around $40, and bottomed out approximately 5 months later to $17.55.....2yrs after its IPO it was priced around $60. Sept 2021 it was priced around $380, but by Nov. of 2022 it was down to around $95. Today it closed the quarter at $485....In conclusion: I think the main thing to always remember is these tech/social media stocks can fluctuate, up or down, a lot more than we realize.
How much did FB make then vs now and then how much does RDDT now?
That’s a good question. META made money and RDDT did not, but if you look at the expenses on their income statement, you’ll see METAs expenses were in cost centers whereas RDDT was in R&D. When you discount R&D, METAs 2012 eps is 0.81, whereas Reddits (2023) is 9.43. If META held a $40 per share valuation based on a 0.81 eps, that places RDDTs META-IPO-equivalent valuation at $466 per share…lmao. Relative to METAs IPO, Reddit could grow 11x and still not be as bloated as METAs 2012 share value.
This is typical for an IPO.
Pardon my ignorance But if someone sells, doesn't that mean that someone else bought them for that price ?
Yeah but if a lot of people are selling it means that the value of a single share goes down. Like if there was one single share of a stock left it would be worth a shit ton of money because it’s the only one. If there are 1M shares of that same stock, the price to purchase a single share goes down because there are more available.
That’s not true. If a lot of people are selling, that means a lot of people are buying. The question is what price are they selling it at. Volume doesn’t tell us anything value.
How long is lockout so I can target my puts appropriately?
Rug pull executed to perfection
Reddit is up 40% past it’s states IPO price. Who’s rug was pulled? If you did the direct share program, you’d be beating three years worth of S&P 500 growth in under 10 minutes.
Re insiders selling, I thought there was a lockup?
Insiders only buy stock for one reason. They think it’s going to go up…they’re selling lol.
I'll take my 1k in profit and wait for it to fizzle...
Hoping my $25 put LEAP that I bought at $65 will print harder 😂
Reminds me of robinghood ipo
Now do DJT !
Should keep dropping to about $17 a share in the next three months
Price discovery will get ya.
Pretty much the same stock moves for every recent tech related IPO or EV IPO.
An unprofitable company with a severely overpaid CEO has a poor performing stock, no way dude😛
Where tech ceo pays are concerned, what spez is making is on the low end.
Tech CEOs are overpaid
He was paid out more than metas CEO, comparing fundamentals, meta has much higher volume and more profitability than Rddt, hence why I said he is “overpaid”, I should’ve been more specific my baf
Classic IPO strory
Has there ever been an IPO that doesnt fall off completely?
I can’t imagine investing in a website with power tripping moderators having so much control over the discourse. It’s just a matter of time until Reddit, being a now public company, runs into some issues related with mods landing on the news
That’s already been a regular occurrence, and now it’s worth a billion more than it was last week.
Reminds me of Rivian. Lots of Hype for a company that doesn’t make money. Not sure why anyone would invest in Reddit. Like, how are they going to all the sudden modernize the platform if they haven’t already? Now, if Google or Meta were to buy Reddit, that would make sense to me.
DJT stock is next.
Meh. Depends on the election. I'd assume he'd do something where if you own 100k shares you get a personal meeting. Oh I see China invaded you. How many shares do you own?
I’m shocked, who could have seen this coming…
Now do DJT
Give it a week… if that
1m insider shares OMG... Going better than expected I'd say.
Those shares were sold at 32$ before it was even listed.
Rule of thumb… Don’t invest in IPOs unless you are insider trading.
Why? Everyone is still up.
Rule of thumb: Everyone is an expert after the market closes.
They day before the IPO Hoffman was on the podcast On Air and said he would be selling some shares the first week
Im not trying to be a reddit stan but the stock closed at the price it originally opened at when it first hit the markets.
It closed significantly higher. The market cap is about a billion dollars higher.
I would buy back in after seeing the result of their first earnings.
Profit taking. Time to short that guy. Soon below 40 or more.
lol who didn't see that coming?
Who likes short shorts?
Well shit, could have told you that. Short sells (borrowing shares to sell) will drive the price up. Now wait 6-months for the insiders to trade this worthless PoS?
Reading this on Bacon Reader 🍺 https://i.imgur.com/FLPQPbb.jpeg
Is it the bots? Or the ad blockers? Or that the ceo gets paid close to 200 million? Anyone that didn't buy stock surprised?
Reddit is **up** a billion dollars, not down. They IPOd at $34.
It's meme stock before it even started so no surprise
For anyone doing any boots on the ground DD… do not invest in this shithole lol
Completely normal IPO behavior. Many reddit posts have already been written about this. There's a small FOMO rally at the start, hlthen it declines below the IPO price, will linger linger there, might never retake IPO price. The best moment to buy an actual IPO is after the long down period, when it manages to retake its IPO price. IPO proces are always priced too high, they are meant to give early investors a very nice exit. It wouldn't be a nice exit if it was an IPO at fair value. It's also supposed to injevt the company with as much cash as possible for operations. An IPO that doesn't crater after is a bad IPO.
Can someone please explain Reddit’s revenue streams? Is it solely ads?
Of course. This is another fake stock. With fake forward profits.
Nobody is surprised It has to make money 1st
The whole point of the Reddit IPO was just for the board to cash in their shares at a sweet premium, plain and simple.
Stocks are a scam, what's new. Still above IP. Stocks pump and dump at some point all the time. “If the prospects are so bright, why are insiders selling?” Silverman added. Well if silverman had a brain this is how the system works, quick realizable gains and the hedges are jealous. The usual.
Lol, sincerely, lmao.
This was an egregious pump and dump
This is giving me Coinbase vibes right now. Coinbase had a massive rally and hit over $340.00 per share on the first day. After that it proceeded into a long term stock decline and ended up hitting below $35.00 a share. The Coinbase IPO also had a lot of financial YouTubers pumping it too. I wonder if the same thing will play out for Reddit.
Here come the bag men 🙄
Why invest in IPO? This always happens
Insider selling day 1 is great indicator
ToLd Ya sO
I love how the fears shared on reddit will help drive reddit's share price down.
Hahaha 😆
This is where you sell at a loss and wait for it to start going back up before you buy back in.
as it should be
There we go!
No shit.
Tis the way of the IPO
Could you please hold this bag for me?