898
Reddit literally shilling their own stonks to users in direct message, reveals that CEO gets paid $193 million last year
(lemmy.world)
this post was submitted on 23 Feb 2024
898 points (96.7% liked)
Mildly Infuriating
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I was in the first round of invites.
I might buy some depending on initial price. May as well milk them a bit like they're doing to their users.
You never know when they'll dump. Hoping you can dump before others do in a pump and dump is not usually a good bet.
Smart move could be to short it.
But then, I thought that Facebook's IPO would flop, too.
Apple is a fancy-looking fad. I give it 6 months tops.
Goo-gol? Stupid name. Ill just ask Jeeves.
From memory all those were performing well, getting load of attention and be used by "everyone" at the time of their ipo. Particularly google was THE search engine and Facebook was THE social media site.
Reddit has been around forever, most of us left, what does it really have to offer? Keeping in mind that llms have had access to all that data for s long time, I can't imagine the last 8 months or so of reddit data to be that significant.
Usually companies go public because they have an aggressive plan that requires growth and a massive cash injection. What is spez's plan if he gets that? I'll admit I haven't really followed much, but I doubt reddit had this huge potential. And that's even if they didn't alienate their users and nods.
Reminds me those pet food companies going public in the late 90s during the internet bubble.
The moment insider lock up ends.
But you won't have the fastest possible internet ping, others are gonna dump before you.
You don't wait until peak. You wait until there is a small gain and bounce.
Buy at purchase price then sell 25 hours later.
Only use money you are willing to lose
Isn't that true of all gambling?
Yeah for sure, but I say it here to imply that it would be a loss. Maybe I’m just on the hate train but I’ve not seen a true way that Reddit’s fundamentals as a company can be anything but very short term performance. I think they have a very limited time to milk their existing content, and the enshittification is not helping bring much more in.
It’s an unrelated industry, but I encourage you to look at Rivian’s IPO. Bought a couple shares for fun and small spike for a day or so then tank all the way to the ground. Mr. Spez is gonna pump and dump and run away with your cash IMO.
Why did Rivians tank?
I like what they're doing with their vehicles, and I hadn't heard anything particularly damning about them
Me too, I think their products are exceptional for an early company. It was pumped high initially due to Tesla hype and investors Looking at their stock as the next potential Tesla (200x appreciation). That bubble passed shortly after the IPO, though, and unfortunately, Rivian had reported missing production and delivery targets for a few quarters in a row, increased expenses, like the rest of the industry, and generally not performing compared to what they told investors to anticipate.
They’ve had difficulty recovering since then and the share price is trading at about 1/10th of the IPO price.