Reddit Opens Up 38%, as Shares Begin Trading
Reddit shares opened up about 38 percent on Thursday in their first day of trading, in a sign of investor eagerness that set the stage for more tech companies to reach the stock market this year.
Archive link: Reddit Opens Up 38%, as Shares Begin Trading
https://www.nytimes.com/2024/03/21/technology/reddit-stock-ipo-market.htmlOpen linkView original on lemmy.world
18 replies
What tech?? And eagerness for more? This feels like it will become a pump and dump.
Edit, addition: Why does The New York Times seem eager to suck Reddit’s dick. What the hell??
Can't wait
It's about to close even on the day. It pumped at open, then dumped until close. Should continue to dump for a while, so buy puts.
Spez sank the ship and now he's trying to sell the cargo before people ask where, exactly, it is.
Thankful I'm not on that godforsaken site anymore.
Same! I’ve actually been really good about using Lemmy now. I only end up on Reddit when there is some obscure question someone answered ages ago. Not for the new content and certainly not posting comments or submitting any. Spez burned us all. He can rot in hell.
A shit site traded its users for money. I found a better one as a result. That's the real news.
probably would not be a stretch to say Lemmy and Mastadon are the real winners after the reddit exodus. Hope spez suffers a catastrophic failure in his IPO.
This wasn’t a great first day performance. Sure there was an initial bid up, but that dropped off quickly. We need to see strong buying resistance on a drop (showing institutional buying) to keep the vultures from circling. (Not financial advice)
Its 50% up i just saw. But give it a few days and the thing will crash. Pump and dump. Old investors want there money back they already put in years ago, as soon as they got that.. gone..
50% from what? It's the first day. It opened at $47 and it's at $50.16, at close. That's not 50%.
IPO price was $34.
I opend my ticker app it says +50% didnt bother to look any further. That stock is just as full of air as trump
Oh i just checked they use 34$ as start price
So weird. TradingView shows $47 at open, a high of $57.80 and a low of $45.05.
I think they or this ticker includes the pre buyin stocks price that “loyal” reddit users could buy So that 50% up from that close not today or somehing.
Fuck Reddit, this is my home now.
Gross.
Time to buy some puts