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Reddit’s IPO Filing Shows Lots Of Losses After Nearly 20 Years
(www.forbes.com)
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this post was submitted on 28 Feb 2024
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I made a comment below about which of my old accounts were receiving the buy-shares offer. I don't know if what they're doing raises any speculation to someone with your background, but I'd be interested in hearing if it does.
Vonage did something similar where they let users get in on the IPO. Then got sued in a class action lawsuit because the stock tanked.
https://web.archive.org/web/20121104141751/http://news.cnet.com/2100-1036_3-6079765.html
Reading through that article you could probably find/replace with Reddit.
Oh, ouch! If this is similar, it's a bit ironic that they've pissed off the people who would've been most likely to invest in the IPO.
I would have totally been one of those IPO investors. I'm seriously considering shorting the shit out of it now.