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this post was submitted on 01 Feb 2024
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Technology
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The essential part at the end:
We can infer that it was not the fountain of money they thought it would become.
More telling is their silence. Who doesn't want to promote and advertise how profitable they are to potential shareholders just before an IPO.
They might want to, but it's illegal.
The "quiet period" is a reference to an SEC law that forces any company to be radio silent for a strict 40 day period during the IPO process. Reddit is in that period now and therefore they cannot say a word.
JPMorgan was fined almost a billion dollars for answering questions on a phone call during their quiet period.