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Reddit power users balk at chance to participate in IPO as Wall Street debut nears (www.cnbc.com)
submitted 2 years ago by to c/reddit@lemmy.ml
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[–] 14 points 2 years ago (5 children)

I was sent an invite to participate, I assume just because the age of my account, but there's no way I'd jump into that unless I already knew how to actively play the market. I'm guessing there could be an initial surge from people investing who recognize the name but haven't been paying attention to the site in the past year, and then everyone is going to start jumping ship when they realize the stock isn't going anywhere or is going to lose money.

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  • [–] 8 points 2 years ago (4 children)

    I got that invite, too, despite having not used my Reddit account for over a year, and having relatively little total karma and no non-deleted posts, so it probably is just an account age thing. Or they tried all of their preferred targets, didn't get enough takers, and started lowering their standards. I sure didn't bite.

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  • [–] 7 points 2 years ago

    I'm curious to see what actually happens, but considering the shit-show from the past year (and even before then) I have zero interest in risking my money. Shorting the stock sounds like the way to go, but stocks are way outside my knowledge so I'll just grab the popcorn.

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  • [–] 4 points 2 years ago

    The thing I saw a while back showed It was tiered, I think 5 tiers, based on karma, with the last wave of people getting the offer being those with like 5k or some ridiculously low number basically meaning they offered it to nearly everyone.

    If they had sold the shares with the first few waves it wouldn’t have gotten to the low karma users, which probably means it wasn’t well received.

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  • [–] 1 point 2 years ago

    Also invited.
    Though as I am a resident in the EU I couldnt evem participiate as it's limited to US only.
    It's not like they have the info in the account and many log entries of login history and origin of country.

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