Reddit Warns That r/WallStreetBets Could Wreak Havoc on Its Stock Price

return2ozma@lemmy.world to Technology@lemmy.world – 722 points –
Reddit Warns That r/WallStreetBets Could Wreak Havoc on Its Stock Price
gizmodo.com
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Considering they're DMing certain Reddit users (their most active users, according to the DM) about being given a chance buy Reddit stock during the IPO (that's not strictly PR speak; they're actually setting aside some stock for their users), that's entirely possible.

They offered it to me. I've not been on reddit since the API issue kicked off.

Yeah, they sent it to me, too. For users, it's based on total karma. For mods, it's based on total mod actions taken.

Over 200K karma I read somewhere else

Well fuck, I had well over 200k karma. Why didn't I get a buy-in offer I could tell them to fuck off for?

I think it's to limit damage from subreddits like WSB. If a bunch of your most active users own stock, they will be slandering WSB and calling for the ban of the subreddit when they eventually want to short it.

Reddit has enough of the same half crazed energy Tumblr has that I suspect quite a few users even the most active site would fuck the site over for fun.

It's karma + mod actions.

More accurately, it's based on total karma OR total mod actions.

Yeah. I didn't mod anything but was very active, and I got emailed a 1st round invitation.