"These idiots bought Doge and AMC, of course they'll give us money ππππ" - Spez, probably.
this post was submitted on 22 Feb 2024
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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?
Assuming the price hops up
Assuming the price hops up
Assuming the price hops up
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.
PLEASE BUY A PART OF MY SINKING SHIP
But if you've changed all the parts of the ship and replaced them with shittier parts, is it still the same ship?
The Shit of Theseus.
Still the same captain, so yep.
He FA so now we're all about to FO:-).
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Come back, come back my little Rats, it's a chance to invest!!!
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.
Lol does that mean reddit is breaking its own site wide rules and mass doxxing people?
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.
Reddit doing something extremely scummy? Never!
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βEligibleβ 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?
just exactly WHAT is it about that writing style that makes it sound so fucking pretentious?
Why do I have to be a US citizen? Are EU citizens not gooed enough to be scammed?
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.
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.
Bro if you want to lose money, you can just send it to me.
I'd move to Europ again to avoid this. Probably would be cheaper too.
Nope, needs more goo
It's a US company
That's not relevant to whether someone can buy stock. Lots of Europeans own stock in American companies.
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I'm still buying puts.
Ah⦠found the WallStreetBets refuge
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.
I would love a good pump and dump tbh
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?
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 youβre left when it crashes. The problem I see is that window is hopefully gonna be very short and youβre not gonna be able to time it. So itβs a serious risk.
Well you can do this risk free if you understand the bare minimum of how to use a stock trading account.
Once you have your shares you immediately put a limit sell trailing percent or dollars order on the security. What this does is automatically sells the stock the very second it drops by the amount you set.
So with reddit you set it to sell at something like 2% and then the second it drops below that you cash out with your money.
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.
They're going to pump and dump their own userbase?
That surely won't backfire this time.
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?
I'm very sad I can't reply to this.
You put your reply into the only place that matters to us: the Fediverse:-).
π₯Ήπ₯Ή
Nobody commented on my battery. Nice.
That's because those are rookie numbers. Real ones wait to make a screenshot post until their phones are at 2%
Hold my charger.
26% seems fine compared to many I've seen before.
Charge yer phone
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"This special program lets redditors purchase stock!"
Wow, you're gonna LET ME GIVE YOU MONEY? Go fuck yourselves
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