this post was submitted on 28 Mar 2024
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News

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[–] [email protected] 16 points 8 months ago (1 children)

Wow it's almost like we called it

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[–] [email protected] 15 points 8 months ago

What an unexpected outcome! Who would’ve thought.

[–] [email protected] 13 points 8 months ago (1 children)

r/wallstreetbets strikes again!

One of the only reasons I am ok with Reddit still existing.

[–] [email protected] 11 points 8 months ago (2 children)

I hate to say it, but Reddit might be primed for a short squeeze. Everyone is shorting it because it is such a turd.

[–] [email protected] 9 points 8 months ago

Lots of people, including me, foresaw that.

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[–] [email protected] 13 points 8 months ago

Smallest violin, where are the insufferable hodl guys now?

[–] [email protected] 12 points 8 months ago

lol. Get rekt, Reddit

[–] [email protected] 11 points 8 months ago
[–] [email protected] 9 points 8 months ago (1 children)

Reddit CEO Steve Huffman sold 500,000 shares on Monday at an average $32.30

On Monday the 25th, Reddit shares were trading between ~$49 and ~$59. The stock has not yet dropped below the initial price of $34.

Can somebody explain why these shares may have been sold below market value?

[–] [email protected] 11 points 8 months ago (2 children)

There's a bunch of trades which happen instantly when you IPO. I don't know exactly how it works, but I think that when my company went public the pool offered in the IPO included stock from priority shareholders. So I'm guessing he effectively sold them to reddit at slightly below initial offer value for them to release to the public as part of the IPO. This way he doesn't tank the stock by selling off 500k shares on the stock exchange.

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[–] [email protected] 9 points 8 months ago (1 children)

is there a way to do the opposite of to the moon GME? What's the opposite of that? Crash & Burn 🪨🔥🪨🔥🪨🔥

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[–] [email protected] 8 points 8 months ago

Oh no it's only up 40% since their IPO 3 days ago :(

Heavens knows pre IPO lockup expiration won't be distinctly negative, that's unheard of.

[–] [email protected] 6 points 8 months ago

Fuck that utter hurensohn.

[–] [email protected] 6 points 8 months ago

Oh. Oh no. How tragic.

Uh.

.... Anyways.

[–] [email protected] 6 points 8 months ago

Wait, what’s “reddit”? Is this something i’d need the internet to know about?

[–] [email protected] 5 points 8 months ago

Yeah totally didnt see that coming /s

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