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Reddit Warns That r/WallStreetBets Could Wreak Havoc on Its Stock Price (gizmodo.com)

submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world

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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.”

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[–] Pyr_Pressure@lemmy.ca 4 points 9 months ago (1 children)

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.

[–] Imgonnatrythis@sh.itjust.works 4 points 9 months ago

Yeah, I'm very bummed they didn't kill robinhood. It remains a scumbag organization.