BrikoX@lemmy.zipM to Technology@lemmy.zipEnglish · 7 months agoReddit faces new reality after cashing in on its IPOarstechnica.comexternal-linkmessage-square11fedilinkarrow-up1103arrow-down14file-textcross-posted to: [email protected][email protected]
arrow-up199arrow-down1external-linkReddit faces new reality after cashing in on its IPOarstechnica.comBrikoX@lemmy.zipM to Technology@lemmy.zipEnglish · 7 months agomessage-square11fedilinkfile-textcross-posted to: [email protected][email protected]
minus-squareLiz@midwest.sociallinkfedilinkEnglisharrow-up10·7 months agoCan anyone remember what share price Reddit offered to “power users?”
minus-squaregivesomefucks@lemmy.worldlinkfedilinkEnglisharrow-up27·7 months agoIPO 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.
Can anyone remember what share price Reddit offered to “power users?”
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.
It was pretty damn high