this post was submitted on 24 Feb 2024
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A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock. (www.theverge.com)
submitted 10 months ago by [email protected] to c/[email protected]
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A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock.::Reddit seems like a likely candidate for a meme stock. But the actual reaction suggests that r/WallStreetBets isn’t going to send the stock to the moon.

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[–] [email protected] 50 points 10 months ago* (last edited 10 months ago) (1 children)

This pre-IPO invitation to buy is the "pump" part of pump and dump, of course everyone hates it, lol.

“I think it’s pretty cool that Reddit is doing this IPO offer to their mods and users,” a Reddit user who asked me to identify him as Kevon tells me. “It’s a nice little thank you that actually may have some monetary value.”

Kevon’s considering buying shares in the Reddit program, and may buy more once it goes public, if he feels the stock is undervalued.

Kevon sounds like a nice guy, but someone should explain to him the difference between being given options and buying shares at the IPO price. Reddit's not doing him any favors.

[–] [email protected] 17 points 10 months ago (2 children)

Dunno...if I can buy, then dump everything 15 seconds after open, it'd probably be an easy win.

There will be a spike in the first minute of trading, then it will crash and burn.

[–] [email protected] 2 points 10 months ago

Yeah, we could ride this perhaps

[–] [email protected] 2 points 10 months ago

I'd probably try something similar if I could, I'm not in the US though.