Hubi@feddit.de to Reddit@lemmy.worldEnglish · 9 months agoReddit shares plunge almost 25% in two days, finish the week below first day closewww.cnbc.comexternal-linkmessage-square171fedilinkarrow-up1848arrow-down115cross-posted to: [email protected][email protected]
arrow-up1833arrow-down1external-linkReddit shares plunge almost 25% in two days, finish the week below first day closewww.cnbc.comHubi@feddit.de to Reddit@lemmy.worldEnglish · 9 months agomessage-square171fedilinkcross-posted to: [email protected][email protected]
minus-squareyeehaw@lemmy.calinkfedilinkarrow-up45·9 months ago“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.
minus-squareFlying Squid@lemmy.worldlinkfedilinkarrow-up24·9 months agoThat 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/
minus-squarePrinceali311@lemm.eelinkfedilinkarrow-up1arrow-down1·9 months agoThis is normal and not a big deal at all. Essentially happens with most IPOs.
“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.