- cross-posted to:
- reddit@lemmy.ml
- cross-posted to:
- reddit@lemmy.ml
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They dumped $50 million the same week as the IPO? Talk about confidence in your company!
Also, they didn’t have any lockout period? That’s also bullshit. I worked for a company during an IPO some years back and nobody could sell their shares for something like a year!
My company is planning on IPO ina year or so, I think we’re taxed 50% if we sell early.
I’m pretty sure that’s normal capital gains stuff though?
Yup! And it’s generally still the best advice, drop and diversify.
I bought put options on Monday. So far the stock is doing exactly what I thought it would do. I expect to see it at 25 a share before they expire in a few months.
I’ve got a single $35 p for 4/19. Didn’t wanna go too nuts, I’ve seen plenty of shitcos reach ridiculous valuations after IPO like DASH, and then lose my ass buying puts waiting for the drop everyone knew was coming.
I was pretty confident this was going to follow the same path like what robinhood did when it went public and I threw a bit of heavier money at my confidence on it. Mine are $40 put options that expire mid July. Should be enough time to bottom out on the stock price before it starts to rebound and settle at closer to where it should be. Hoping to triple up on profits. Reddit owes me for the massive amount of ai data from comments I gave them. Lol
Be sure to keep track of your expected price change vs theta lost. Often selling earlier is just as good, after a quick move with higher volatility
Fuck that utter hurensohn.
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.
First the pump, here comes the dump.
Short!
My bet is the company winds up around a $2billion market cap after dipping to $1.5.
What an unexpected outcome! Who would’ve thought.
Lol.
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.
Oh my gosh! Who could possibly have foreseen that?
Shocked, I say!
Rats cashing out before it swirls down the drain
I’ve given up on buying stocks for individual companies. I’d rather just stuff it in an index fund and pretend it doesn’t exist for 10 years.
Preach it loud and wide.
If you have the money to spend/blow, the “correct” approach is to:
- Put the vast majority if your money into stable investments. Index funds, bonds, etc. You should have a retirement fund with at least one of the major companies (I have had good experience with Vanguard and Fidelity) and they can help with that. This is for retirement and the like.
- Put a VERY small amount into “one off” purchases of various stocks. Stuff like “I think this apple computers might take off some day” kind of purchases. This is not a retirement fund. This is gambling. But it still might mean you have money for a kitchen remodel or a rainy day.
But if you don’t have money to “throw away”? Do not buy individual stocks. Or crypto. Or anything other than what you need to have a life after you age out of the workforce because late stage capitalism.
My one-off is still GME. Diamond hands.
The thousands of rounds of ammunition I purchased during the height of covid has gone from 32 cents to 42 cents per round.
Most of my etfs are doing better than my stock purchases, but I have had a couple big wins over the years. I’m expecting my reddit put options to be another, though.
Didn’t know da brutal yet kunnin’ boss of bosses was also a shrewd investor
Do ya have any teef in da shiny choppa index?
That’s advice I’ve been given many times in my life. If I had any money to invest, that is likely how I would do it.
the average person usually doesnt beat the average index fund, so if you arent keen at day trading, dont do it.
No one is “keen” at day trading, some people get lucky and think they’re talented. The vast majority lose money because the big players make sure of it.
you definitely have people who go positive in day trading on average more than not by following some patterns and such, its just most people lack the kind of skills to do it and usually do worse than the index (even if they go positive)
It’s literally just gambling, but nobody looks at a guy who won $50k at blackjack and says “hey I can make a career out of that.”
Blackjack is normally gameable.
https://en.wikipedia.org/wiki/Card_counting
I mean, I sure wouldn’t want to do it as a career, but it’s possible to beat the house over the long run depending upon how they’ve structured play.
That being said, I get your broader point, and there are obviously games of chance for which this is not true.
What if I’m not average. I bet I can lose all my money. Take that index funds.
How do I buy puts on you
You reverse all my plays.
Me too generally. But on a whim i bought 100 shares of NVDA back in 2019, and god damn has it been good so far.
Wait, what’s “reddit”? Is this something i’d need the internet to know about?
Shares “dove” to $50, which is still about $49 too high
Anything that keeps them listed on the exchange is too high honestly
If you want to have a laugh at how ridiculous the whole market is, Trump’s Truth Social just IPOed and has the same market cap as Reddit even though it’s much smaller and full of insane people.
To be fair, Truth Social has a userbase who have proudly declared that they are rubes ripe for further grift.
So… It’s more or less the same as Reddit, but with way, way, way less users and post history.
I wonder what the ratio of asblock users are between the two websites.
What!?
Of course it should be valued that high!
Totally good indicators of
Estimated 5million total users
3.5m revenues
49m operating expenses
Worth it!
/Sarcasm
How much would you pay to correct the record?
So the IPO was Thursday; on Monday:
Reddit CEO Steve Huffman sold 500,000 shares … at an average $32.30 price, receiving $16.15 million.
CFO Vollero Andrew sold 71,765 Reddit shares for $2.318 million.
Chief Operating Officer Jennifer Wong sold 514,000 shares for $16.602 million.
Chief Technology Officer Christopher Slowe sold 185,000 shares for $5.975 million.
Chief Accounting Officer Michelle Reynolds sold 3,033 RDDT shares for $97,966.
Board member David Habiger sold 3,000 shares for $102,000.All told, that’s $41.245 million worth of Reddit shares sold.
I knew they were going to sell as soon as they could, but damn. As someone who knows the bare basics of how it all works but does NOT actually follow the stock market, the last time I saw that kind of executive dumping was Enron just before it went under, lol.
Can someone who actually follows the markets tell me whether all the social media/tech IPO C-suites do that these days, or is this genuinely unusual? Because honestly I find the sales a bit shocking in both rapidity and amount, even for as greedy and openly corrupt as the Reddit board has been over the last few years.
I hate these fucking people so much.
At least they are destroying their own place, now lets hope they just become rich nobodys and keep their greedy fingers of everything else.
I don’t. Such as the nature of living in the conservative fascist multiverse.
You cant expect everyone to stop wanting to crush the weak just because you were born in a era of unprecedented technological advancement. Feudalism is still alive and well in some parts of the world, and it has been going strong throughout human history. For all we know, it will outlast democracy.
We are cavemen and cavewomen with space ships and computer phones. Stop having such high expectations for us dumbasses.
This is just you saying that you would crush the weak if you had the opportunity so you empathize with those that do.
When I was poor and complained about inequality they said I was bitter; now that I’m rich and I complain about inequality they say I’m a hypocrite. I’m beginning to think they just don’t want to talk about inequality.
I was thinking short sellers looking to profit would buy up as much as they could to make a bubble then short sell once the market started going sideways, and this chart seems to accurately reflect that:
Great chart. I see your point. Thank you!
Some of these people have been with Reddit since the very beginning and this is basically their first practical chance to sell any of their shares - I wouldn’t read too much into their activity this week. For a company valued at $9B, having the founder & other executives only sell $41M in the week of the IPO if anything feels like the opposite of dumping.
From my experience, these people have lots more shares and what they sold, aside from spez, is not really that much.
If I am not mistaken, these sales are also planned and public knowledge before the sales are executed. The key shareholders should know executives are going to dump stock.
But yes. This seems normal to me.
One thing of note is the average price spez sold for. That is actually below market value so it’s likely that his sale price was fixed, which I believe is a thing.
Yes. Insiders with that high a fraction of ownership exercise the ability to sell shares at a predetermined percentage value of a full priced share. Usually pegged to the closing price at the beginning or end of a quarter, whichever is lower.
lol. Get rekt, Reddit
