this post was submitted on 22 Feb 2024
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[–] CaptDust@sh.itjust.works 86 points 8 months ago* (last edited 8 months ago) (2 children)

"These idiots bought Doge and AMC, of course they'll give us money πŸš€πŸš€πŸ’ŽπŸ‘Š" - Spez, probably.

[–] otter@lemmy.ca 15 points 8 months ago (2 children)

Could this also be a way to retain users? Have people financially invested in the companies future, making them do more work for no pay

Assuming the price hops up during the IPO, could it be worth using the opportunity and then dumping it?

[–] Windex007@lemmy.world 13 points 8 months ago (1 children)

Assuming the price hops up

Assuming the price hops up

Assuming the price hops up

[–] otter@lemmy.ca 9 points 8 months ago* (last edited 8 months ago) (1 children)
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[–] Fermion@mander.xyz 6 points 8 months ago

Plenty of IPO's don't hop up. You're still placing a bet on how their stock will perform with 0 history to estimate volatility.

[–] AtariDump@lemmy.world 8 points 8 months ago (2 children)
[–] Thcdenton@lemmy.world 3 points 8 months ago

I'd pay good money to smash that face with a frying pan.

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[–] PlexSheep@feddit.de 73 points 8 months ago (2 children)

PLEASE BUY A PART OF MY SINKING SHIP

[–] abbadon420@lemm.ee 25 points 8 months ago (4 children)

But if you've changed all the parts of the ship and replaced them with shittier parts, is it still the same ship?

[–] Passerby6497@lemmy.world 21 points 8 months ago

The Shit of Theseus.

[–] BlackPenguins@lemmy.world 14 points 8 months ago

Still the same captain, so yep.

[–] OpenStars@startrek.website 3 points 8 months ago

He FA so now we're all about to FO:-).

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[–] bjg13@lemmy.world 5 points 8 months ago

Come back, come back my little Rats, it's a chance to invest!!!

[–] ramble81@lemm.ee 55 points 8 months ago (1 children)

I know this may not get seen but anyone who jumps in on this will basically end up linking their Reddit account name to their real info. Let that sink in.

[–] weariedfae@lemmy.world 17 points 8 months ago

Lol does that mean reddit is breaking its own site wide rules and mass doxxing people?

[–] lvxferre@mander.xyz 52 points 8 months ago (3 children)

My guess is that the current Reddit Inc. investors know that the price per share will sink in the initial public offering. So to squeeze a bit more cash, they're trying to sell some shares to suckers who are emotionally invested into the platform, before the IPO.

If that's correct it's extremely scummy, bait-and-switch behaviour. And damn stupid given that Reddit's CEO Steve "Greedy Pigboy" Huffman was taunting and pissing off powerusers and moderators not too long ago.

[–] Kecessa@sh.itjust.works 24 points 8 months ago (2 children)

It will pump at first then crash hard, like Robinhood did.

I wonder if Spez is a wall street bets user and he'll buy puts against his own company πŸ€”

[–] Kanda@reddthat.com 6 points 8 months ago

A couple days after the initial pump, your Shares will be available for trading

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[–] beebarfbadger@lemmy.world 7 points 8 months ago

Reddit doing something extremely scummy? Never!

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[–] grte@lemmy.ca 52 points 8 months ago (1 children)

β€œEligible” you note skeptically? Yes. Unfortunately, there are a ton of imposed legal restrictions defining when, who, and how we do this. So while our goal is to give all redditors the same access to stock as institutional investors (why should they have all the fun?), our lawyercats can confirm we must follow specific rules explained below.

Really angling for a certain demographic, huh?

[–] TimewornTraveler@lemm.ee 2 points 8 months ago

just exactly WHAT is it about that writing style that makes it sound so fucking pretentious?

[–] abbadon420@lemm.ee 46 points 8 months ago (10 children)

Why do I have to be a US citizen? Are EU citizens not gooed enough to be scammed?

[–] givesomefucks@lemmy.world 38 points 8 months ago

Probably consumer protection...

Reddit is trying to profit off everyone they can, and these idiots are about to tie real name and contact info to their reddit profiles.

That makes the data reddit has much more valuable to people who buy data.

[–] Tar_alcaran@sh.itjust.works 28 points 8 months ago

Europe has a shitload of requirements that shares must meet in order to be sold to your average private person, including stock info in your native language, and a proper risk assesment.

[–] TropicalDingdong@lemmy.world 14 points 8 months ago

Bro if you want to lose money, you can just send it to me.

[–] fossilesque@mander.xyz 5 points 8 months ago* (last edited 8 months ago)

I'd move to Europ again to avoid this. Probably would be cheaper too.

[–] shasta@lemm.ee 3 points 8 months ago

Nope, needs more goo

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[–] TropicalDingdong@lemmy.world 27 points 8 months ago (1 children)
[–] satanmat@lemmy.world 20 points 8 months ago

Ah… found the WallStreetBets refuge

[–] loobkoob@kbin.social 19 points 8 months ago (2 children)

Part of me hopes none of them are dumb enough to fall for this. Part of me hopes redditors somehow end up as the majority owners of Reddit and either a) return it to being a good website or b) wreak absolute havoc.

[–] candyman337@sh.itjust.works 12 points 8 months ago (1 children)

I would love a good pump and dump tbh

[–] BlackPenguins@lemmy.world 2 points 8 months ago (1 children)

ELI5 How would a pump and dump work here. If you buy stock to pump it up then everyone dumps. Isn't it just back to where it started in value?

[–] ramble81@lemm.ee 12 points 8 months ago (1 children)

For that to happen the pre-IPO price would have to be lower than the perceived peak which is a gamble here. The goal would be to buy as much as possible and sell it as soon as it goes up to make a profit off of it, and be rid of it before you’re left when it crashes. The problem I see is that window is hopefully gonna be very short and you’re not gonna be able to time it. So it’s a serious risk.

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[–] deur@feddit.nl 3 points 8 months ago

They seem to imply they dont want to even sell that many shares if its too popular so theyre probably precisely rigging it in their favor.

[–] RizzRustbolt@lemmy.world 12 points 8 months ago (1 children)

They're going to pump and dump their own userbase?

That surely won't backfire this time.

[–] Seasoned_Greetings@lemm.ee 3 points 8 months ago

It's all about perspective. There's no backfiring if your goal was to make money with no regard to the longevity of the platform.

Do you think Reddit cares if the platform tanks after they make all their money?

[–] Kolanaki@yiffit.net 10 points 8 months ago (1 children)

So this is how they are going to "pay" users.

[–] OpenStars@startrek.website 10 points 8 months ago (1 children)

Ding ding ding ding - yes, with the "option" for users to pay them. It's a Trump/Musk/Spez specialty: do whatever the fuq you want, but make it sound nice and people will be lining up just to fall for it.

I would add the joke "What's next - crypto?"... but at this point that is not even funny anymore:-(.

[–] eerongal@ttrpg.network 8 points 8 months ago (2 children)

Reddit tried a crypto thing. "Community points". I believe they killed that program before even rolling it out too far.

https://web.archive.org/web/20230201233950/https://www.reddit.com/community-points/

[–] wizardbeard@lemmy.dbzer0.com 5 points 8 months ago (1 children)

Wasn't there also some sort of talk about doing NFT shit with the godawful "snoovatars"?

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[–] OpenStars@startrek.website 3 points 8 months ago

Yeah that's why it isn't even funny, b/c it wouldn't be "next" - they have ALREADY TRIED THAT.

This is the scheme that they are doing AFTER the crypto scam!

Like, at what point do you stop making fun of somebody and just start pitying them instead? (To be clear, so long as we are talking about spez, the correct answer will always be "never":-P)

image

[–] fossilesque@mander.xyz 7 points 8 months ago (1 children)

I'm very sad I can't reply to this.

[–] OpenStars@startrek.website 9 points 8 months ago (1 children)

You put your reply into the only place that matters to us: the Fediverse:-).

[–] fossilesque@mander.xyz 4 points 8 months ago

πŸ₯ΉπŸ₯Ή

[–] fossilesque@mander.xyz 6 points 8 months ago (4 children)

Nobody commented on my battery. Nice.

[–] Seasoned_Greetings@lemm.ee 5 points 8 months ago* (last edited 8 months ago) (1 children)

That's because those are rookie numbers. Real ones wait to make a screenshot post until their phones are at 2%

[–] fossilesque@mander.xyz 4 points 8 months ago

Hold my charger.

[–] Crozekiel@lemmy.zip 4 points 8 months ago

26% seems fine compared to many I've seen before.

[–] TheLoneMinon@lemm.ee 3 points 8 months ago

Charge yer phone

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