this post was submitted on 24 Feb 2024
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A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock. (www.theverge.com)
submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world
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A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock.::Reddit seems like a likely candidate for a meme stock. But the actual reaction suggests that r/WallStreetBets isn’t going to send the stock to the moon.

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[–] Boozilla@lemmy.world 29 points 9 months ago (1 children)

Predicting the long-term results of the reddit IPO is tricky, because it involves two large groups of highly irrational actors. 'Tis a silly place.

I speculate (hope) it will go very poorly for them. But anything could happen. They might fail upwards and print money.

Will be interesting to watch.

[–] butterflyattack@lemmy.world 10 points 9 months ago (1 children)

I'm guessing it'll do pretty well, at least initially. There's got to be a whole lot of investors out there who just want to get in on the new big tech IPO and still jump in. I'm not convinced the WSB crew will really move the dial. Yeah it'd be an amusing and salutary lesson if the IPO shits the bed but I can't see it happening. I'm no expert tho!

[–] Boozilla@lemmy.world 5 points 9 months ago

They lost about $90M in 2023, seems like a really bad investment. But yeah, it probably will do well, at least for a while, because it's all just gambling and BS.