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A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock. (www.theverge.com)

submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world

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A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock.::Reddit seems like a likely candidate for a meme stock. But the actual reaction suggests that r/WallStreetBets isn’t going to send the stock to the moon.

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[–] ChunkMcHorkle@lemmy.world 50 points 8 months ago* (last edited 8 months ago) (1 children)

This pre-IPO invitation to buy is the "pump" part of pump and dump, of course everyone hates it, lol.

“I think it’s pretty cool that Reddit is doing this IPO offer to their mods and users,” a Reddit user who asked me to identify him as Kevon tells me. “It’s a nice little thank you that actually may have some monetary value.”

Kevon’s considering buying shares in the Reddit program, and may buy more once it goes public, if he feels the stock is undervalued.

Kevon sounds like a nice guy, but someone should explain to him the difference between being given options and buying shares at the IPO price. Reddit's not doing him any favors.

[–] chakan2@lemmy.world 17 points 8 months ago (2 children)

Dunno...if I can buy, then dump everything 15 seconds after open, it'd probably be an easy win.

There will be a spike in the first minute of trading, then it will crash and burn.

[–] butterflyattack@lemmy.world 2 points 8 months ago

I'd probably try something similar if I could, I'm not in the US though.

[–] someacnt_@lemmy.world 2 points 8 months ago

Yeah, we could ride this perhaps