I would say betting against a website that had never turned a profit in almost 2 decades of its existence despite getting millions of dollars of free labor (well, more accurately, PAYING to do work for reddit) every year seems like a no-brainer.
this post was submitted on 05 Mar 2024
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despite getting millions of dollars of free labor
I'm still trying to figure out how so-called "landed gentry" donates free labor; this makes no sense.
This should be good and maybe we can make a bunch of money
It’s a ruse.
This is a shitty cover story to obfuscate institutional shorting.
Wall Street Bets has been completely compromised since 2021 and its head moderator is said to work for Citadel
It’s a ruse. IPO = exit liquidity and they will blame it on “rEtaiL”
I honestly don’t think many in WSB would be willing and or able to be approved for a margin account and to put up the collateral. It’s much easier to buy than to short.
I’m sure some will do it, but I doubt it will be a big thing from retail investors.
Well they can buy puts without margin accounts, since those have a cap on the losses, which would also get more valuable if the stock price decreases. While technically a side bet, the options sellers often want to remain neutral in their risk with respect to movements of the underlying stocks, so buying options may influence stock price as well because of the downstream effects the options seller may undertake.
The expanded leverage of short term calls, though not directly buying the stock, may have been one thing that helped explode the GameStop share prices, as options sellers had to buy more shares to limit the losses on calls they had sold as the price increased (a gamma squeeze).
Yeah, Reddit was offering shares to high profile users/moderators. The CEO paid himself very near $200 million last year— and the company has never been profitable.
🚩🚩RED FLAGS 🚩🚩🚩🚩
I will stay far away from anything to do with it. (See Robinhood)
I got a bunch of those emails too. Was not high profile, but had some karma.
Any money I put into that company via stock purchases would just line Steve Huffman's pockets during his exit ~~scam~~ plan.
Pretty sure it was anyone who reached a certain karma threshold... I'm far from high profile and got multiple emails asking me to invest
Think account age also had to do with it.
Been getting spammed on the email I have tied to the account I registered to squat my "real" online name. Think I made a grand total of one comment on that account something like a decade ago.
They offered shares to me as well, and I am anything but high profile…
Lol They want your 💰💴💵
How can I get in on shorting reddit?
You’ll need to approved for a margin account and will need to put up some collateral. It’s not nearly as easy as simply buying stock.
https://www.nerdwallet.com/article/investing/shorting-a-stock
He could also get approval for options trading and buy puts, but puts won't be available until roughly a week of trading, and the IV will likely eat most if not all of his investment.
Don't bait the backwards GME.
This is horse shit. WSB is not a meme stock forum.
Its a piss drinking forum with a gambling problem, get it straight.
Also, as a previously highly active meme poster within said community, I begged Reddit to IPO so I could buy puts in the daily thread everyday.
Also, just like literally every other forum and sub that exists, WSB isn't a monolith. It can seem that way because some voices are louder at times, but I assure you, some other degenerate piss drinker is on the other side of your losing 0dtes.
For the uninitiated:
This is horse shit. WSB is not a meme stock forum.
Its a piss drinking forum with a gambling problem, get it straight.
Hey, I ain't Bloomberg; take your complaints to them.
How do I buy a put option on an IPO?
You can buy naked short, but you need big $$ for that.
You might some betting markets, but thats kinda sketch.
Only realistic option for plebs is to wait the 30 days for the options to go live. But it will prob be delisted by then.
I have no idea; am not active in that sub and just posted the story.
Perhaps someone else can chime in.
This is gonna be hilarious. I bet reddit was banking on capitalizing on the whole "diamond hands" and stonks memes, but instead are gonna get shorted.
Bruh not if they've ever checked the sub and its probably the singularly most active sub on reddit, by at least 2-3 oom.
They daily thread gets 25k+ comments per day, every day, in an 8 hour trading window.. Its a constant stream of shit and piss.
It's also their golden goose.
Spez shares memes with the top mods.
They ain't worried about it.
Diamond stonks was all about fucking over the masses so that the rich could buy low and sell high.
We'll see similar with the IPO. I doubt anyone is smart enough to really know how that stock will behave, but expect similar "Hey, we need to hold on to this for just long enough to prove that it is a failure. Oh, my portfolio? Don't ask questions"
.
It would be idiotic too, cause it would only make them mad and make them even more dedicated to tanking the IPO. It would be the absolute worst thing he could do.
That said, buy popcorn futures because I totally expect him to ban the sub, remove the mods, or restrict discussion of the IPO
They also can't afford any bad press right now. They already pushed back the IPO by months due to the fall out from killing 3rd party apps so it'd be a really stupid move to ban WSB now instead of nine months ago when it wouldn't have mattered because they were already up to their necks in bad press.
I don't think WSB has enough to cash to throw around to fuck with much. The GME thing only worked because normies hopped on the band wagon.
It would be the absolute worst thing he could do.
Which means he would probably do it...