322
submitted 8 months ago by ylai@lemmy.ml to c/reddit@lemmy.ml
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[-] fartsparkles@sh.itjust.works 109 points 8 months ago

No one could have foreseen this. No one. Not a sausage.

[-] 1984@lemmy.today 17 points 8 months ago

But now we will see next week... Everyone thinks it will take a nose dive, but sometimes the market surprises us. I would not be surprised if it goes up 6% on Monday.

[-] stewie3128@lemmy.ml 13 points 8 months ago

Dead cat bounce before it settles into its long-term valuation

[-] masterofn001@lemmy.ca 11 points 8 months ago

Then:

  1. Fomo
  2. Dives 60%
  3. ...
  4. profit?
[-] finickydesert@lemmy.ml 4 points 8 months ago
  1. Profit loss
[-] NewNewAccount@lemmy.world 1 points 8 months ago

Facebook was also down after a couple days and in its first couple weeks. Look how that turned out.

[-] athos77@kbin.social 90 points 8 months ago

Well, spez and the COO sold over a million shares. I thought they'd be tied down by some kind of lock-in period.

[-] grte@lemmy.ca 72 points 8 months ago

Considering that 'opportunity' they gave to long term reddit users it seems like this fleecing was planned from the get go.

[-] Diplomjodler@feddit.de 47 points 8 months ago

Quite frankly, this scam was so obvious, I have zero sympathy for anyone who fell for it.

[-] infinitevalence@discuss.online 35 points 8 months ago

Narrator: it was.

[-] eveninghere@beehaw.org 2 points 6 months ago

Yup, this is why I didn't buy. I didn't smell a good intention. (Although, I refrained from judging whether the price would go up or down.)

[-] _sideffect@lemmy.world 24 points 8 months ago

Did they?? Fucking grifters

[-] Sabata11792@kbin.social 17 points 8 months ago

Corpo exit scam?

[-] Avanera@kbin.social 16 points 8 months ago

I mean, an IPO is a pretty reasonable point to allow insiders to trade. You've just published a huge amount of information about the company, so the insider advantage is at a relative low. It's somewhat common for blackout periods to exist prior to things like earnings announcements, but after the announcement is usually when trading is permitted.

[-] kadu@lemmy.world 51 points 8 months ago

Reddit emailed me to buy their shares even though I had deleted my account, which should be protected by LGPD (brazilian GDPR) and therefore my email should no longer be stored. Fun times.

[-] Ghostalmedia@lemmy.world 17 points 8 months ago

Did you make the request to delete your data? Simply deleting the account is usually not enough.

https://www.reddit.com/policies/privacy-policy?rdt=34844#policy-h2-7

[-] takeda@lemmy.world 4 points 8 months ago

The shares they offered to redditors were meant to drive price up in case it would tank on the first day. Once it looked good they rejected purchases.

Looks like they now want people to bump the price now (if I understand you correctly)

[-] kowcop@aussie.zone 51 points 8 months ago* (last edited 8 months ago)

Well when the CEO gives himself 25% of the companies revenue as his annual pay, it doesn’t set a good precedent for investment growth

[-] Archpawn@lemmy.world 6 points 8 months ago

Sure it does. All they have to do is fire the CEO and they'll have so much more money.

[-] happybadger@hexbear.net 31 points 8 months ago

Fuck yeah. Burn baby burn.

[-] RavenFellBlade@startrek.website 17 points 8 months ago

Flames a getting hottah!

[-] Igotz80HDnImWinning@kbin.social 28 points 8 months ago

If he dies, he dies

[-] Kerb@discuss.tchncs.de 17 points 8 months ago

honestly, im shocked it stayed over the ipo price so far.

i was expecting a drop, kinda like robinhood

[-] finthechat@kbin.social 16 points 8 months ago

Sucks to suck

[-] DirkMcCallahan@lemmy.world 13 points 8 months ago

Perhaps they shouldn't have driven away a significant number of their most engaged content creators.

[-] mercano@lemmy.world 9 points 8 months ago

What stock is going to crash faster, Reddit or Truth Social?

[-] takeda@lemmy.world 11 points 8 months ago

Reddit went public earlier, on the other hand truth social doesn't generate much of revenue, on the other hand foreign entities could purchase truth social stock.

[-] expatriado@lemmy.world 5 points 8 months ago

only 25%? still some ways to go

[-] andri@lemmy.world 0 points 8 months ago

Folks just taking profit

this post was submitted on 30 Mar 2024
322 points (97.6% liked)

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