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This was totally expected. Story of most tech IPO’s. It’ll continue to fall into the teens, maybe single digits and stay there for a long time.
Yep, Facebook dropped 50% after the IPO. If you bought at IPO and held on to the stock you now got 10x ROI. Of course FB makes a ridiculous amount of money from ads even at the IPO while Reddit is still struggling.
Super long term investment
I mean, yeah? Happens with most IPO’s after all and as long as it stays stable and higher than the 34 initial IPO price, I’ll be a happy camper.
You invested in reddit?
Yes. I had the chance to buy into the IPO with my old, dead account so I had some extra cash that I could invest/gamble with so I pickup a few shares and I put in a reminder to sell at the end of the lock out phase.
I mean you can hate reddit all you want, I’m not active on the site myself outside of a few niche communities that don’t have active home here but I personally don’t have qualms about making some money off of reddit if I can.
How long is the lockout period?
Piggy boy etc have a 180 day lock.
What about the incentive investors? The Reddit members that got the early invitation?
No idea
It’s honestly more that investing in a company that hasn’t been profitable for 20 years and has had the CEO admit they don’t know how to properly turn a profit doesn’t strike me as a good investment.
I’m not saying you should get out, your money is your business of course but you may want to look at how other IPOs performed immediately after release. The ones I know of are CRSR(CORSAIR GAMING), OLPX(OLAPLEX), and RR(RICHTECH ROBOTICS). All three of these spiked dramatically up after the initial offering, then crashed to less than half the price of the initial offering ( except CRSR which is at offering price currently).
Now these aren’t the same industries of course so things could differ but I would be surprised if it did. The selling of data for LLMs(AI) is very limited IMO mainly because the more AI generated content reddit has the worst the model will be for the LLMs and AI content is pretty high right now. RDDT just does not have good fundamentals for an investment, public sentiment is super low already and now viable alternatives are popping up like lemmy. I am also sure that now they are public reddit will only get shittier for the user leading to a lost base.
I am not a financial advisor, this is just my opinion. I would personally get out relatively soon after you capture some profits and not look back. Again I’m not trying to tell you what to do but I would strongly consider these things. Best of luck and I hope you get some nice gains from it!
So for me I have no faith in the company, I’m just making a bet with some extra money, and again it’s just my fun money to see if my theory that wall street is freaking insane and just still just chases after tech.
There’s no expectation that this will pay out big, if at all, and losing this little bit of cash won’t break me.
Bull trap. Which will follow with a bear trap. Then after two bounces it’ll crash like Robinhood.
Hope it keeps plummeting.
thoughts and prayers; go bears.
That spezial mod of r/jailbait already cashed out his shares for something like 16 million so he got his… I doubt he cares what happens now.
This is generally how IPOs work out. Same happened with ARM.
Yup. Nothing surprising.
Ya love to see it folks.
Hey there, it’s been a while, hope you are doing well
Whomp whomp
Yikes Shaggy, it was the old amusement park owner all along.
Ellen Pao is long gone, though.
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Well nice to see racism alive and well on Lemmy.
Oh noooo, who would have guessed the initial week would have been pumped to grift more value out of it and then immediately hard dumped
The layout change this week is what did them in.
Wow, it doesn’t even resemble Reddit anymore. I was also immediately hit with a full page ad. Glad I left.
Full page ad? Like a post that takes up the whole page or a legit popup like a mobile game?
A large sponsored video that takes up 90% of the page.
Gotta get that MIC money, baby!
I love that the post about dis-inventing stuff is directly beneath an intrusive ad disguised as a post, a prime example of the kind of thing that should never have been invented.
It somehow looks like a more pic heavy twitter. It’s insane how much a site that was built and grew on its comment system seems to try and hide it now.
Because it’s bots all the way down
Digg reference?
They changed it yesterday. It sucks.
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Ooh nooooooo… anyway.
I’m doing my part!