What an unexpected outcome! Who would’ve thought.
Smallest violin, where are the insufferable hodl guys now?
lol. Get rekt, Reddit
r/wallstreetbets strikes again!
One of the only reasons I am ok with Reddit still existing.
I hate to say it, but Reddit might be primed for a short squeeze. Everyone is shorting it because it is such a turd.
Lots of people, including me, foresaw that.
Lol.
Reddit CEO Steve Huffman sold 500,000 shares on Monday at an average $32.30
On Monday the 25th, Reddit shares were trading between ~$49 and ~$59. The stock has not yet dropped below the initial price of $34.
Can somebody explain why these shares may have been sold below market value?
There's a bunch of trades which happen instantly when you IPO. I don't know exactly how it works, but I think that when my company went public the pool offered in the IPO included stock from priority shareholders. So I'm guessing he effectively sold them to reddit at slightly below initial offer value for them to release to the public as part of the IPO. This way he doesn't tank the stock by selling off 500k shares on the stock exchange.
Oh no it's only up 40% since their IPO 3 days ago :(
Heavens knows pre IPO lockup expiration won't be distinctly negative, that's unheard of.
is there a way to do the opposite of to the moon GME? What's the opposite of that? Crash & Burn 🪨🔥🪨🔥🪨🔥
Fuck that utter hurensohn.
Oh. Oh no. How tragic.
Uh.
.... Anyways.
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