It was pretty damn high
Comment on Reddit faces new reality after cashing in on its IPO
Liz@midwest.social 6 months ago
Can anyone remember what share price Reddit offered to “power users?”
AlexWIWA@lemmy.ml 6 months ago
ColeSloth@discuss.tchncs.de 6 months ago
It was $34 I’m waiting for options to pop up so I can buy puts and make money on it dropping to $25 over the next 6 weeks.
givesomefucks@lemmy.world 6 months ago
IPO price, around $30, so it’s up 50%.
Normal IPO, you have to hold like 6 months then sell. It artificially increases scarcity and keeps price up.
The reddit users can sell right now though, and if enough do it at once, it can scare off new buyers and make those who already bought after IPO sell.
It could waterfall and leave the traditional IPO buyers who can’t sell get stuck holding the bag.