this post was submitted on 12 Mar 2024
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This is one of those rare cases where what is being said is less interesting than who says it.
What: Reddit stock is junk, the IPO will fail hard, and anyone investing on it is begging to lose money. I believe that most people discussing this in Lemmy already know that, so the info isn't new here.
Who: Forbes. Forbes' target audience is investors; greedy vulture capitalists love it. So if Forbes says "it'll sink!", investors are less eager to buy stock, and that sinks the stonks even further. So what Forbes says is often a self-fulfilling prophecy.
I'm glad that Forbes is doing it. I want to see Reddit die.
EDIT: as other posters are correctly highlighting, I derped - the article is from a "contributor", and it has basically no impact or visibility.
Damn - now I want Forbes shitting on the IPO!
But you should also take into consideration that this article did not get a huge attention. It is almost a week old and has a few thousand viewers.