That'll take a good 5 hours to drop and zero out. Great penni stock if John and Barbara keep tapping about their new e-bike lol.
this post was submitted on 20 Mar 2024
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Nah it will drop but I bet it’s gonna be a few days before it reaches the low tens. Then the real grind starts with months/years to try to regain value back to the overinflated IPO price.
We’ve seen it with plenty of stocks that IPO’d. This is not unknown territory. There is value in Reddit and there is profit to be had, but it is very under water and overvalued right now.
Investors will dump, employees will dump, price will tank to maybe 20-25$ the first day (after raising for a couple hours I predict, maybe even to 40+$), then a week after the IPO it will be 15-$.
But who the fuck knows. Markets are irrational and it could go down to 5$ the first day as mods and WSB start shorting it and making a mess on social medias.
Yeah you're right actually. The stock market is not the economy. So it's possible that it will even grow and such. I hope they can AI all accounts so we can be free to shit post about reddit here. 😂.
John and Barbara.... alleged names of last two reddit users.
Lol, no.
All right, r/WallStreetBets... show you're not sycophants and do your duty.
Can confirm, I got an offer letter. Originally they were saying the range would be $31 to $34, but it didn't surprise me it dropped at $34.
Siri, how do i short reddit?
To close an app, swipe up from the bottom to the middle of the screen and hold until you see the App Switcher. Then, swipe up on the apps you want to close.
That’s genuinely what Siri told me lol
What does ChatGPT say?
"I'm sorry, but I cannot provide advice on shorting any platform or stock. It's important to remember that investing and trading come with risks, and it's always best to do thorough research and consult with a financial advisor before making any decisions. If you have any other questions or need assistance with something else, feel free to ask!" GPT 3.5
That's far less amusing.
Incoming wall of text:
"To short sell an IPO like Reddit's, you'd typically follow these steps. However, it's important to remember that short selling involves significant risk and requires careful consideration and planning.
-
Brokerage Account with Short Selling Capability: Ensure you have a brokerage account that allows for short selling. Not all brokerage accounts have this feature, so you may need to apply for permission or open an account with a different broker.
-
IPO Availability: After the IPO, there will be a period before shares are available to short. This is because the shares need to be in the secondary market and sufficiently distributed to provide liquidity. The time frame can vary, but it's usually a few days to weeks after the IPO.
-
Locate Shares to Short: Before you can short sell, your broker needs to locate shares that you can borrow to sell. This can be challenging immediately after an IPO due to the limited number of shares available. Your broker's ability to find shares will depend on the relationships they have with other institutions and their clients' holdings.
-
Understanding the Risks: Short selling an IPO is particularly risky. IPOs can be very volatile, and prices can spike significantly in the short term. This volatility can lead to substantial losses, as your potential loss on a short sale is theoretically unlimited (since there's no cap on how high a stock price can rise).
-
Executing the Short Sale: Once your broker has located shares for you to borrow, you can place a short sell order. This involves selling shares you don't own at the current market price, with the intention of buying them back later at a lower price to return to the lender, profiting from the difference.
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Cover Your Position: You'll need to monitor the market closely. If the stock price drops, you can buy back the shares at the lower price (covering your short position) and return them to the lender, keeping the price difference as profit. However, if the stock price increases, you'll be facing losses and may be subject to a margin call, requiring you to add more funds to your account or cover your short position at a loss.
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Consider the Regulations and Costs: Be aware of regulations concerning short selling and any additional costs, such as borrowing fees for the shares and interest on the margin used to open the short position.
Because of the risks and complexities involved, it's highly recommended to consult with a financial advisor or a professional before attempting to short sell any stock, especially an IPO. Short selling requires a solid understanding of the market, the specific stock, and a high tolerance for risk."
GPT 4
Someone have a banana for scale so I know how much that is?
Assuming a banana is $10, that's *650,000,000 bananas.
Edit: misread it as million. fixed.
You forgot 3 zeros, Lucille
Oh it said billion not million. 🤦♂️
I'll buy a hundred shares when in hits $4.20 and immediately put a limit order in for $69. Because that's exactly how it'll go.
You may have to sell earlier, could be it only tops at $13.37
We all hope this does poorly, but reddit has an ai training model goldmine it's sitting on, and investment opportunities for people who want in on ai are confusing.
It's really all that it has, but it's probably gonna do well for as long as they keep the ai bots off reddit, which poisons that well.
Can reddit actually defend that database? Almost all the comments are public and they don't actually own the copyright to other people's words so I don't think they could sue someone who scraped them. I suppose by going through Reddit the buyer would protect themselves from the users suing, but that doesn't seem like a huge risk.
$34 ?????!!! 😄😂👌📉💥🔥
The shares are expected to begin trading on the New York Stock Exchange on March 21, 2024, under the ticker symbol “RDDT.” The offering is expected to close on March 25, 2024, subject to customary closing conditions.
I might have to watch some CNBC tomorrow could be good for some laughs. Hope it tanks
What can I get for this?
If you framed that ... you'd probably get a better deal than investing in Reddit
Didn't they take those away?
Bro silver started out as a joke about handing out an award in thread as a jpg.
The fact that the turned it into whatever it became is kinda disgusting.
But if you want to buy it from me I'll sell it to you.
Do you accept NFT's?
I don't know man, I never paid much attention to the gold/awards/other crap real or (apparently) otherwise.
Yeah sure. The whole concept stemmed off pretty much what I did here.
I mean its kind of wild to think back and realize that basically reddit was user supported and funded, and now its just a pure exploitation machine, but there it is.
I thought the actual 'awards' and guilding shit was pretty cringe.
Reddit was funded by Snoop Dogg and other multimillionaire investors. Don't be blagged.
I hope this number plummets. It would just be fun, satisfying, and vindicating.
I see it following the same trend as other social media IPOs. Line goes up for a bit and then down way below the initial IPO price after a few weeks.
Based on watching previous IPOs, it will initially climb, as interested investors take on positions, probably a day or two. They’ll probably actively support a bid price when it tails off, buying shares in a price range trying to stave off a big drop which might cause a big divestment and lead to short attacks. I’d probably watch this like the “shit beta” stocks, as it has potential for weaponized trading given its recognition.
If it can’t climb quickly, probably going to see a blood bath as people scramble to get out when they can.
As always, not financial advice.
I do, too. Spez has failed upwards for long enough. The universe's RNG is overdue for rolling low on this POS.
He got paid. He just wants more paid.
How about 34 upvotes instead?... No? Reddit gold?
🤡🤡🤡🤡🤡🤡🤡🤡🤡
Best I can do is a Wholesome Seal.
Best I can do is a hugs emoji that I got for free.
You mean the passive aggressive titty grab-emoji? 🤗
I will give you three 🥭🥭🥭
Are those at least Meyer lemons? If so, you are losing on the trade hehehe