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this post was submitted on 30 Mar 2024
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Has spaz sold it all and disappeared yet? I figured it was a stage coach robbery situation. Reddit died June 10th according to my whitelist firewall. The microbes don't die at the same time as the cadaver, but the survivors move on to a new host fast.
Are his shares restricted? The way I understand it, usually insiders aren't allowed to sell until some time after the IPO.
He already sold over 500.000 shares, same as his CFO iirc. Classic pump and dump. Reddit is 25% down, below initial value. From an article I read today.
He still kept majority of his shares. Like the previous poster said he can't sell more or SEC will grab him by his tiny balls.
Jeez. I thought insiders werent allowed to sell at all for x amount of time.
They aren't. But, you can set a number to sell at the IPO. You can't dump the rest a week later if the price sky rockets.
Interesting! Thanks for mentioning it.