Reddit shares plunge almost 25% in two days, finish the week below first day close

"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."

If they believed in the platform, they would hold. Yeah looks like they are looking for bag holders.

We all knew this was a pump and dump scheme. Spez got his, fuck everyone else.

I want Elon Musk to buy Reddit. 😈

Whomp whomp

Reddit has a market cap of $7.8 Billion right now.

Truth Social had a market cap of $8.4 Billion.

It's still at 50 dollars which is insane. Even 37 dollars is much more than it's worth now, and future looks very bleak for it.

Why were insiders allowed to sell so quickly?

Oh noooo, who would have guessed the initial week would have been pumped to grift more value out of it and then immediately hard dumped

This is generally how IPOs work out. Same happened with ARM.

"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.

Let me show you this tiny violin 🎻

thoughts and prayers; go bears.

Hope it keeps plummeting.

I really think most investors really are disconnected from the reality of the companies they are investing in despite there being communities online where you can get the low down. Someone got rich, but it will not be the investors. Suckers.

The layout change this week is what did them in.

That spezial mod of r/jailbait already cashed out his shares for something like 16 million so he got his... I doubt he cares what happens now.

I so rarely get to do my c/news duty outside of that community, and you're welcome.

Hold on guys. I want to sell you all together for a lot of money. I mean not you personally just everything you write. No worries 😁.

Stock Market Capitalism is just imaginary numbers made up by rich people to convince other rich people to give them money. It's completely ephemeral.

The fact that it can rise or fall with nothing more than a silly antic from one person is proof about how insubstantial and frankly ridiculous the whole scheme is.

Called it. Overvalued. The site has been is in dire need of investments to improve the platform. Give tools for the moderators to do their job properly (they're already working for free), improve the page layout, fight bots in a more intelligent manner, find innovative ways to make the platform turn a profit instead of resorting to the most assholeish, intrusive and abusive ways ever. But instead the dipshit that runs that dumpster fire gave himself a huge undeserved paycheck with the money that should have been used to do that so when it inevitably comes crashing down he has made some reserves.

I wouldn't be surprised if most of the traffic on that site is bots farming karma so they can spam some ads at that point and a significant portion of human accounts they have left are probably shadow banned by false bot detection. Every attempt they've made to make money out of the platform was so terribly thought through that it just unnecessarily resulted in a far worse experience for the userbase than it needed to, screwed over the people who work for free to keep running and was met with huge backlash every time. And they still can't turn a profit.

Bull trap. Which will follow with a bear trap. Then after two bounces it'll crash like Robinhood.

I'll stick to VTI and VXUS.

Ya love to see it folks.

This reminds me of the things preceding the 1929 stock market crash. I'm not a history expert and know very little about it, but I recall that just before it happened, many people who ordinarily did not care about the stock market or had to means to care about suddenly started speculating in the market. That may not have lead to the crash but possibly it was a symptom of whatever has fuckening. I think just looking at us all here talking about how reddit this and that blah blah, that's a symptom of the impending market crash of the early 20's. LOL it would be hilarious if it happened exactly in 2029.

Elle oh Elle 😂

Let me know when it becomes a penny stock...

F

Reddit started blocking VPN users, even on old.reddit.com, I don't go on there anymore.

Ooh nooooooo... anyway.

A

Ya love to see it

I'm doing my part!

Why do we keep seeing these fake news headlines? It's up 40% since IPO.

I mean, yeah? Happens with most IPO's after all and as long as it stays stable and higher than the 34 initial IPO price, I'll be a happy camper.

When do we get to see Margo Robbie naked again?