In its IPO documents, Reddit said the price and volume of its stock could “experience extreme volatility for reasons unrelated to our underlying business.”

Reddit Warns That r/WallStreetBets Could Wreak Havoc on Its Stock Price::In its IPO documents, Reddit said the price and volume of its stock could “experience extreme volatility for reasons unrelated to our underlying business.”

  • Imgonnatrythis@sh.itjust.worksEnglish
    1172·
    9 months ago

    Wrong. It is related to your underlying business.

    Also, unfortunately WSB was a one-off. It’s a highly monitored and bot infiltrated wasteland now. I hope someone is able to screw the reddit ipo, but it won’t be WSB.

    • SupraMario@lemmy.worldEnglish
      71·
      9 months ago

      Apparently reddit hasn’t been following wsb… it’s likely to help the IPO from regards trying to time the market.

    • Pyr_PressureEnglish
      4·
      9 months ago

      Ya if anything I would have expected Robinhood to have been destroyed by WSB but it’s still kicking at $14.48/share.

      They did do a number on it though since it IPOd around $60 and even almost hit $90 there briefly before plummetting to around $8.

      Reddit will probably do the same thing, start in the middle but a brief high and then plummet before finding an equilibrium about 1/4 of what reddit initially thought it would be worth.

    • Adalast@lemmy.worldEnglish
      21·
      9 months ago

      I’ve been planning on doing like a 6 month short on it if I have the money because it is going to be tanked hard.