this post was submitted on 28 Mar 2024
215 points (98.6% liked)
13435 readers
2 users here now
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Does this mean that they don't believe in reddit or is this normal? I really don't know personally.
It's pretty normal I think. This is how economy works these days. Companies IPO to turn the shares into liquidity. It's all so that the greedy people at the top can get their payday.
So they don't care about the company or this is so normal that they'll continue as they have been and no one thinks it's anything?
They hopefully would plan on continuing as normal even if they expect the company to tank. Otherwise it would be an obvious insider trading violation I think. Of course CEO is a bit of a fanboy of Musk, who regularly committed securities-related crimes and is always under SEC investigation for the crimes he repeatedly commits, but probably still makes more money off the crimes than the penalties...
it's not normal.. if the Prez thought it was a good company, he would hold onto his shares because he expected them to go much higher.. if they were using the capital generated by the IPO to actually improve the business.. but they aren't doing that.. they are cashing out and saying fuck you..