Reddit shares plunge almost 25% in two days, finish the week below first day close
Reddit shares plunge almost 25% in two days, finish the week below first day close
Reddit shares are plummeting from the rally highs experienced after the social messaging company's IPO last week.
You're viewing a single thread.
"Earlier this week, Reddit disclosed in a corporate filing that CEO Steve Hoffman sold 500,000 shares, and Reddit COO Jennifer Wong also disclosed that she sold 514,000 shares."
Third bullet point. Nuff said.
That is definitely part of it, but r/Wallstreetbets is also shorting the fuck out of the stock.
One of multiple threads- https://www.reddit.com/r/wallstreetbets/comments/1bcfl86/reasons_to_short_the_reddit_ipo_make_big/
Oh I forgot about those guys. Juicy.
Tally ho lads
This is normal and not a big deal at all. Essentially happens with most IPOs.