Asking because I got it and I’m not really sure what to do. So, I wanted to see what strangers on the internet are going to do.
I don’t have an existing e-trade account and I’m not super excited about creating one for the singular purpose of this IPO. But, if I can quickly make a couple of bucks and then cash out, that might be worth it.
Are there rules to when you cash out if you get in at the IPO price? Could I buy-in at the $30-ish/share price and couple that with a trailing stop-loss order? Maybe this isn’t the right Lemmy community to ask this, but I figured I’d give it a shot.
My bet is that the starting value is over inflated and it drops instantly.
I hope they look to the failure of Robinhood and wish things went that well for them.
Initially, that happened to Facebook too. Yet years later, here we are.
Is there a lemmy wallstreetbets, and if so, how is this not a post in it?
I would wish you luck in investing, but honestly, I would rather watch reddit quietly burn than them start developing some new horrors of monetization.
Is there a lemmy wallstreetbets, and if so, how is this not a post in it?
I didn’t come across one and I haven’t been on reddit since Apollo shut down. So this is as good as it’s gonna get, I guess?
My thought was that if I can get in on that initial upswing and out before the stock inevitably tanks, i’d like to do that. If not, I’ll just pass on the whole thing.
I’ve played dumb stock moves and am not qualified to give trading advice.
Enjoy your time at the casino and try not to lose your rent money.
There is https://lemmy.whynotdrs.org/ but it seems pretty quiet
I personally wouldn’t want to get involved because Reddit seems an IPO based on hype more than numbers. Usually IPOs buying slots are reserved, or have various restrictions. I haven’t looked at the offering so can’t tell you the finer details, but the chatter of reddit being a great place for market picks seams to be cooling (which imo was the basis for IPO hype) and often on a losing IPO the institutional guys are able to outmaneuver the small guys to avoid being held with the bag.
I wouldn’t even if eligible. The old investment rule of thumb never jump onto an IPO that you can get in on easily is even more relevant here.
Indeed. A hot IPO doesn’t need to advertise to the average user.
Why would I give them a vote of confidence with my money so that they can use it to convince investors that they’re popular and they should pony up a billion dollars for Spez’s pay?
They’re relying on gullible people who think either Reddit is legitimately a good investment or gullible people who think they can beat the market and won’t be left holding the bag. I’m nobody’s bag holder, let alone Spez’s.
if I can quickly make a couple of bucks and then cash out, that might be worth it.
Said every gambler ever.
What Reddit used to bring to the table as quickly disappearing.
They’re not going to get the traffic that they’re used to getting when people are getting all their answers for all their technical questions from an AI LLM.
I think reddit’s stock is going to plummet, and that’s not just because I hate Steve Huffman.
The thing is that the data they are trained on is going to get old.
Not an expert, so don’t listen to me at all.
The closest analog recently is probably Facebook’s IPO in 2012. They were profitable that year, and the stock price still dropped by up to 50% in the first few months. The business is healthy, and the stock is fine now, but don’t count on a quick buck in the first few weeks/months.
They were profitable that year, and the stock price still dropped by up to 50% in the first few months. The business is healthy, and the stock is fine now, but don’t count on a quick buck in the first few weeks/months.
Thanks for this comment. I agree that a “quick buck” is not the play, if there is a play to make at all. I’ll read the prospectus tonight. Maybe that will help me with my decision. Thanks again for commenting.
Nope. That I even got one shows how bad Reddit knows their userbase: I got the invitation even though I don’t qualify.
Me too. On two of my accounts.
It’s also weird because I 'm not active there anymore so I think they are going by karma not by recent account activity.
Put your entire savings in. Then open up a few credit cards and take out as much cash of them as possible. Put it all into one stock. Then be confident that you’re smarter than everyone else and will sell at just the right moment, and much smarter than the people shorting the stock.
It will drop instantly. Why do you want to hold the bag for spez?
I wouldn’t bother unless it’s a small amount of play money you are willing to burn. Reddit has so far not managed to turn a profit after 19 years and Reddit management does not inspire confidence or present themselves as particularly competent. If this is your first investment you would be way better off opening an IRA and buying some VTI or VOO instead of gambling on a risky IPO.
I live outside the US so I am ineligible to purchase but I still got the email. Marked it as spam and moved on.
Not American, so I’m not eligible. If I was eligible, there doesn’t seem to be an option to respond by saying Get Fucked, so I wouldn’t bother responding.
From what I recall of the email, I’d need to share some PII with reddit (or at least share it with someone who could then pass it on to reddit). That’s a hard no from me.
That said, I might throw a little bit of money into trying to short their stock via my existing brokerage account. Partly because I’m sure their stock price will drop like a stone. Partly just for the lols. Andy partly because fuck reddit.
If you don’t hold the stock for at least a year you will pay a higher tax rate. I’m not a financial advisor.
