this post was submitted on 24 Feb 2024
1019 points (98.9% liked)

Technology

59598 readers
3423 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
1019
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 9 months ago by [email protected] to c/[email protected]
196 comments fedilink hide all child comments
 

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.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 29 points 9 months ago (1 children)

Predicting the long-term results of the reddit IPO is tricky, because it involves two large groups of highly irrational actors. 'Tis a silly place.

I speculate (hope) it will go very poorly for them. But anything could happen. They might fail upwards and print money.

Will be interesting to watch.

[–] [email protected] 10 points 9 months ago (1 children)

I'm guessing it'll do pretty well, at least initially. There's got to be a whole lot of investors out there who just want to get in on the new big tech IPO and still jump in. I'm not convinced the WSB crew will really move the dial. Yeah it'd be an amusing and salutary lesson if the IPO shits the bed but I can't see it happening. I'm no expert tho!

[–] [email protected] 5 points 9 months ago

They lost about $90M in 2023, seems like a really bad investment. But yeah, it probably will do well, at least for a while, because it's all just gambling and BS.