this post was submitted on 30 Mar 2024
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[–] [email protected] 109 points 7 months ago (2 children)

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

[–] [email protected] 17 points 7 months ago (2 children)

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.

[–] [email protected] 13 points 7 months ago

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

[–] [email protected] 11 points 7 months ago (1 children)

Then:

  1. Fomo
  2. Dives 60%
  3. ...
  4. profit?
[–] [email protected] 4 points 7 months ago
  1. Profit loss
[–] [email protected] 1 points 7 months ago

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

[–] [email protected] 90 points 7 months ago (3 children)

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

[–] [email protected] 72 points 7 months ago (3 children)

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

[–] [email protected] 47 points 7 months ago

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

[–] [email protected] 35 points 7 months ago

Narrator: it was.

[–] [email protected] 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.)

[–] [email protected] 24 points 7 months ago (1 children)

Did they?? Fucking grifters

[–] [email protected] 17 points 7 months ago

Corpo exit scam?

[–] [email protected] 16 points 7 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.

[–] [email protected] 51 points 7 months ago* (last edited 7 months ago) (1 children)

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

[–] [email protected] 6 points 7 months ago

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

[–] [email protected] 51 points 7 months ago (2 children)

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.

[–] [email protected] 17 points 7 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

[–] [email protected] 4 points 7 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)

[–] [email protected] 31 points 7 months ago (1 children)

Fuck yeah. Burn baby burn.

[–] [email protected] 17 points 7 months ago

Flames a getting hottah!

[–] [email protected] 28 points 7 months ago

If he dies, he dies

[–] [email protected] 17 points 7 months ago

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

i was expecting a drop, kinda like robinhood

[–] [email protected] 16 points 7 months ago

Sucks to suck

[–] [email protected] 13 points 7 months ago

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

[–] [email protected] 9 points 7 months ago (1 children)

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

[–] [email protected] 11 points 7 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.

[–] [email protected] 5 points 7 months ago

only 25%? still some ways to go

[–] [email protected] 0 points 7 months ago

Folks just taking profit