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This is funny, but isnt it kinda normal for a new IPO stock to drop like a rock within its first week or so?
Yes if they are overvalued. Here's a comparison with other tech IPOs.
What's happening next is anyone's guess.
What’s happening next is
stock go down
Reddit went public the same way robinhood did. Well known name recognition and seen unfavorably by many of their users when going public.
So far it's following the same path. Initial quick rise due to name popularity, then it will drop for a couple months before slowly rebounding back up part way to a more realistic price point for its valuation.
Personally, I think reddits real pricepoint should be $20 to $30 a share. I'm guessing it will drop below that point before going back to it. Short selling popularity may take it there faster, but im saying it will go under $20 a share either way.
Depends, Beyond Meat didn't fall for two months and didn't go under first day opening price for 10 months.
Not a fan of artificial meat but I believe bm had a potential market that wanted their products, in a new industry that has plenty of potential.
Besides pure speculation/gambling, what does reddit have to offer to genuine investors in 2024? They never made a profit, they don't have a plan to make profit, they are alienating their users and their mods, they are low in the list of social media sites by usage with no credible plans to climb up the ladder. Really what's in there to invest in?
If I put money in a single stock ipo I want to believe that they are going public to raise funds that will be used to enact a credible businessplan. I might still be wrong and be left to hold someone else bag, but at least I believed in an idea.
For the past few weeks teddit was trying to sell stock to their users and their employees families. That's MLM marketing for you
Isn't it usually undervalued as a way to "pay" the institutional investors who pre-buy shares? Then they sell immediately after the first-day peak which makes the price drop.