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Reddit Warns That r/WallStreetBets Could Wreak Havoc on Its Stock Price (gizmodo.com)

submitted 6 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Reddit Warns That r/WallStreetBets Could Wreak Havoc on Its Stock Price::In its IPO documents, Reddit said the price and volume of its stock could “experience extreme volatility for reasons unrelated to our underlying business.”

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[-] Pyr_Pressure@lemmy.ca 4 points 6 months ago

Ya if anything I would have expected Robinhood to have been destroyed by WSB but it's still kicking at $14.48/share.

They did do a number on it though since it IPOd around $60 and even almost hit $90 there briefly before plummetting to around $8.

Reddit will probably do the same thing, start in the middle but a brief high and then plummet before finding an equilibrium about 1/4 of what reddit initially thought it would be worth.

[-] Imgonnatrythis@sh.itjust.works 4 points 6 months ago

Yeah, I'm very bummed they didn't kill robinhood. It remains a scumbag organization.

this post was submitted on 23 Feb 2024

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