this post was submitted on 23 Feb 2024
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Wrong. It is related to your underlying business.
Also, unfortunately WSB was a one-off. It's a highly monitored and bot infiltrated wasteland now. I hope someone is able to screw the reddit ipo, but it won't be WSB.
It was a magical place there for a little while.
Apparently reddit hasn't been following wsb... it's likely to help the IPO from regards trying to time the market.
Ya if anything I would have expected Robinhood to have been destroyed by WSB but it's still kicking at $14.48/share.
They did do a number on it though since it IPOd around $60 and even almost hit $90 there briefly before plummetting to around $8.
Reddit will probably do the same thing, start in the middle but a brief high and then plummet before finding an equilibrium about 1/4 of what reddit initially thought it would be worth.
Yeah, I'm very bummed they didn't kill robinhood. It remains a scumbag organization.
I've been planning on doing like a 6 month short on it if I have the money because it is going to be tanked hard.