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Reddit wants to raise $748M with IPO, sets value at $6.4B
(go.theregister.com)
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this post was submitted on 11 Mar 2024
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I'm considering buying a few shares (if I can grab just a few) just to watch it burn. And so I can be part of history. Or I'll wait for it crash after the ipo and grab a few as a likely to never profit but might type of play.
You guys really are no fun. I'm not going to throw thousands at them but if robinhood or sofi or whoever will let me grab 5 or less shares, I may make it happen. It's also likely to be a longer term profitable trade if the stock tanks (as I am sure others already expect) and then reddit gets bought out by musk or even openai.
One last edit and then I'm done here. I bet every one of you here is a broke mofo crying about your utilities, groceries, etc going up while you're income stays stagnant. You have fun with that.
If you're buying, you're stopping it from burning...
Clearly you aren't doing it right. Me buying shares is a death knell for companies. I'd be surprised if my broker doesn't give companies a courtesy call when I've bought a few shares to let 'em know the company's about to go under.
At the very least, me buying shares in a company makes certain it will never rise any higher than at that share price, not until right after I’ve sold my shares.
I feel like we could benefit from a support group. There has to be dozens of us.
I made quite a bit of money back in the day on Apple. Bought their shares dirt cheap, and watch them come back from the brink of irrelevance.
.... Then they said they were making a phone. "That's never gonna work", I said to myself, and sold it all.
At least I made a nice profit, right?
Voluntary bagholder or P&D gambler?
If you watch many IPO, you will see it spike quickly then a large dump after that. I know the last IPO I was part of, we couldn't sell for several days after the IPO.
Days? When my company went public employees couldn't sell their stock for several months. And as soon as we could the price tanked, because everyone wanted to cash out.
The selling was understandable, having 80% of your net worth in a single stock is scary, but hundreds of first-time stock owners doing a fire sale didn't do the stock price any favors.
By the time we could sell. The stock had already dropped. It never really recovered after that
I bought Facebook at $18 thanks to the post IPO dump. I waited for the Google post IPO dump but it never came.
I read the Reddit S-1, the lock-up period is three days. Yeah, I'm a nerd, but in this case it was more just wanting to know how long Huffman et al will be forced to sit and watch the stocks freefall before they could ditch them, lol.
Most the time they are restricted in their sales. He has to declare his in advance. Most likely he can sell for six months
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What every idiot who lost money on Gamestop said.
I might wheel it after it tanks, but probably not. My tax advisor always lectures me when I claim stock profits.
I want some, if nothing else as a souvenir of all the time I spent there before the place turned to shit. Too bad nobody makes actual certificates anymore, I would pay extra to get a few shares in certificate form.
No way I am paying that much for it. The true value is probably much closer to $.30 than $30.
Doesn't get more brainless than that