Reddit stock down 24% to $49.32 from a $65 peak in TWO days.
(media.scored.co)
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I think it says something that Reddit's CEO and COO both sold a shitton of their shares instead of holding longer. It's a shame that some garbage human beings are going to make big money off of this, but I guess at least the true believers will see their investment disappear.
There aren't that many endgames. You get stuck as a medium size business. You get bought, or you get big enough to dominate something and be one of the buyers. Of these, the sellout option both enriches the founders and often absolves them of responsibility.
guy sold at like 32 or something, short term he looks like a doofus but long term he'll look like a genius when the stock plummets down to near single digits.
Also where do the real wsb congregate these days? reddit wsb is pure ass.
The executives have probably been waiting to cash out. In many ways, public offering is a maneuver to dump the company's debt on some pension fund while insiders exit with cash.
step 1: pump.
step 2: dump.
step 3: 'we can make your stock price go back up if you change some things for us'
Zuckerbucks is already a pawn of the DNC. What more would he need to change? He's already in full compliance and then some. He even threw away 400 million dollars to manipulate the last election in favor of blithering Biden.
Not even a pawn so much as a willing and eager partner. The way he created and runs his business involved almost no dependency or loyalty to anyone, especially not any of his customers/users.
That 400 million potentially saved his platform. After Biden "won" they locked down social media hard by unplatforming competitors that half the country was flocking to (since it was obvious Twitter, Facebook, etc were compromised by the govt).
Reddit needs to be held responsible for their antifa terrorists and trans shooters they groom and create.
After all Alex Jones was made to pay $4trillion to people who never heard what he said.
As much as people make fun of Elon for buying Twitter, it was never more than a toy train for his autistic ass to play with. What's the public's excuse for buying stock in Reddit?
Thanks to adding "reddit" to the end of your search queries being the last way to find posts written by humans about the subject you're looking up, people think Reddit is much more valuable than it is.
Would love to see them tank down to low teens.
This happened to Facebook in the day as well, but it soon started to blow up after a couple of months. Of course, Reddit is no Facebook.
You won't find illegal porn on Facebook, there's dedicated forums for/hosting it on reddit
FB certainly hosts illegal porn. They're one of the biggests hosts for it. That's part and parcel of running a large website with user-uploaded content. To their credit they often remove it quickly once reported, unlike Jack-led twitter where still-minor gictims contacting the company and reporting it wasn't enough; DHS needed to get involved before anything happened.
I really wanted to join in on the IPO then immediately sell/short it. But that would have required way too much work for the small financial gain and ability to be smug.
Why the hell did the stock value even rise that much in that short time?
Reddit offering to users and pumping it via reddit.
$45.14 right now, lol.
Damn, looks like the investment bankers were worth the money this time around.
Now we just need to create bad press for reddit by sharing their abortion fetish subreddit with advertisers.
Eventually they'll try to purify the site completely and it will go the way of tumblr.
Tuesday will be an interesting day.