this post was submitted on 20 Mar 2024
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113
Reddit guides IPO may price at top of range or above, source says (finance.yahoo.com)
submitted 8 months ago by 1984@lemmy.today to c/technology@lemmy.world
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Get your shorts ready, this will be very interesting to follow. Seems like the stock will appear tomorrow already?

I fully expect a nosedive in stock price but who knows. Maybe a pump and dump.

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[–] ColeSloth@discuss.tchncs.de 9 points 8 months ago

They were looking at selling 8% for the initial IPO offering is how.

Aside from that, there valuation is double what it would be. This stock will wind up settling at 15 to 20 a share within a couple months, IMO. Their revenue isn't really that much, the ai data isn't going to become much more profitable for them after this year, and redditors have been getting less thrilled with the site for the past 5 years. They're peaking in profits right now. It won't get better for them.