You know what they say about assuming. It makes an ass out of U and... Ming.
Plenty of IPO's don't hop up. You're still placing a bet on how their stock will perform with 0 history to estimate volatility.
I'd pay good money to smash that face with a frying pan.
PLEASE BUY A PART OF MY SINKING SHIP
But if you've changed all the parts of the ship and replaced them with shittier parts, is it still the same ship?
The Shit of Theseus.
Still the same captain, so yep.
He FA so now we're all about to FO:-).
No.
This a boat.
Come back, come back my little Rats, it's a chance to invest!!!
I know this may not get seen but anyone who jumps in on this will basically end up linking their Reddit account name to their real info. Let that sink in.
Lol does that mean reddit is breaking its own site wide rules and mass doxxing people?
“Eligible” you note skeptically? Yes. Unfortunately, there are a ton of imposed legal restrictions defining when, who, and how we do this. So while our goal is to give all redditors the same access to stock as institutional investors (why should they have all the fun?), our lawyercats can confirm we must follow specific rules explained below.
Really angling for a certain demographic, huh?
My guess is that the current Reddit Inc. investors know that the price per share will sink in the initial public offering. So to squeeze a bit more cash, they're trying to sell some shares to suckers who are emotionally invested into the platform, before the IPO.
If that's correct it's extremely scummy, bait-and-switch behaviour. And damn stupid given that Reddit's CEO Steve "Greedy Pigboy" Huffman was taunting and pissing off powerusers and moderators not too long ago.
It will pump at first then crash hard, like Robinhood did.
I wonder if Spez is a wall street bets user and he'll buy puts against his own company 🤔
A couple days after the initial pump, your Shares will be available for trading
He is aligned with WSB power users and mods.
WSB is their golden goose.
Reddit doing something extremely scummy? Never!
Why do I have to be a US citizen? Are EU citizens not gooed enough to be scammed?
Probably consumer protection...
Reddit is trying to profit off everyone they can, and these idiots are about to tie real name and contact info to their reddit profiles.
That makes the data reddit has much more valuable to people who buy data.
Europe has a shitload of requirements that shares must meet in order to be sold to your average private person, including stock info in your native language, and a proper risk assesment.
Bro if you want to lose money, you can just send it to me.
I'd move to Europ again to avoid this. Probably would be cheaper too.
Nope, needs more goo
It's a US company
That's not relevant to whether someone can buy stock. Lots of Europeans own stock in American companies.
Apparently it is, because Europeans cannot buy these stocks.
But feel free to inform me that they can.
That also has to have an address somewhere in Europe to operate in it. Do you think Facebook/Amazon/Microsoft dont have offices in the EU? Usually American companies will open European offices in Ireland because they have lower corporation taxes.
None of that changes the fact that it's a US based company.
Reddit (/ˈrɛdɪt/) is an American social news aggregation, content rating, and forum social network.
I'm still buying puts.
Ah… found the WallStreetBets refuge
Part of me hopes none of them are dumb enough to fall for this. Part of me hopes redditors somehow end up as the majority owners of Reddit and either a) return it to being a good website or b) wreak absolute havoc.
I would love a good pump and dump tbh
ELI5 How would a pump and dump work here. If you buy stock to pump it up then everyone dumps. Isn't it just back to where it started in value?
For that to happen the pre-IPO price would have to be lower than the perceived peak which is a gamble here. The goal would be to buy as much as possible and sell it as soon as it goes up to make a profit off of it, and be rid of it before you’re left when it crashes. The problem I see is that window is hopefully gonna be very short and you’re not gonna be able to time it. So it’s a serious risk.
Well you can do this risk free if you understand the bare minimum of how to use a stock trading account.
Once you have your shares you immediately put a limit sell trailing percent or dollars order on the security. What this does is automatically sells the stock the very second it drops by the amount you set.
So with reddit you set it to sell at something like 2% and then the second it drops below that you cash out with your money.
They seem to imply they dont want to even sell that many shares if its too popular so theyre probably precisely rigging it in their favor.
They're going to pump and dump their own userbase?
That surely won't backfire this time.
It's all about perspective. There's no backfiring if your goal was to make money with no regard to the longevity of the platform.
Do you think Reddit cares if the platform tanks after they make all their money?
So this is how they are going to "pay" users.
Ding ding ding ding - yes, with the "option" for users to pay them. It's a Trump/Musk/Spez specialty: do whatever the fuq you want, but make it sound nice and people will be lining up just to fall for it.
I would add the joke "What's next - crypto?"... but at this point that is not even funny anymore:-(.
Reddit tried a crypto thing. "Community points". I believe they killed that program before even rolling it out too far.
Wasn't there also some sort of talk about doing NFT shit with the godawful "snoovatars"?
Yeah, that was a thing too. I don't remember the details of it though
Yeah that's why it isn't even funny, b/c it wouldn't be "next" - they have ALREADY TRIED THAT.
This is the scheme that they are doing AFTER the crypto scam!
Like, at what point do you stop making fun of somebody and just start pitying them instead? (To be clear, so long as we are talking about spez, the correct answer will always be "never":-P)
I'm very sad I can't reply to this.
You put your reply into the only place that matters to us: the Fediverse:-).
🥹🥹
Nobody commented on my battery. Nice.
That's because those are rookie numbers. Real ones wait to make a screenshot post until their phones are at 2%
Hold my charger.
26% seems fine compared to many I've seen before.
Charge yer phone
"This special program lets redditors purchase stock!"
Wow, you're gonna LET ME GIVE YOU MONEY? Go fuck yourselves
"These idiots bought Doge and AMC, of course they'll give us money 🚀🚀💎👊" - Spez, probably.
Could this also be a way to retain users? Have people financially invested in the companies future, making them do more work for no pay
Assuming the price hops up during the IPO, could it be worth using the opportunity and then dumping it?
Fair point
When you assume: https://xkcd.com/1339/
You know what they say about assuming. It makes an ass out of U and... Ming.
Plenty of IPO's don't hop up. You're still placing a bet on how their stock will perform with 0 history to estimate volatility.
I'd pay good money to smash that face with a frying pan.
PLEASE BUY A PART OF MY SINKING SHIP
But if you've changed all the parts of the ship and replaced them with shittier parts, is it still the same ship?
The Shit of Theseus.
Still the same captain, so yep.
He FA so now we're all about to FO:-).
No.
This a boat.
Come back, come back my little Rats, it's a chance to invest!!!
I know this may not get seen but anyone who jumps in on this will basically end up linking their Reddit account name to their real info. Let that sink in.
Lol does that mean reddit is breaking its own site wide rules and mass doxxing people?
Really angling for a certain demographic, huh?
My guess is that the current Reddit Inc. investors know that the price per share will sink in the initial public offering. So to squeeze a bit more cash, they're trying to sell some shares to suckers who are emotionally invested into the platform, before the IPO.
If that's correct it's extremely scummy, bait-and-switch behaviour. And damn stupid given that Reddit's CEO Steve "Greedy Pigboy" Huffman was taunting and pissing off powerusers and moderators not too long ago.
It will pump at first then crash hard, like Robinhood did.
I wonder if Spez is a wall street bets user and he'll buy puts against his own company 🤔
A couple days after the initial pump, your Shares will be available for trading
He is aligned with WSB power users and mods.
WSB is their golden goose.
Reddit doing something extremely scummy? Never!
Why do I have to be a US citizen? Are EU citizens not gooed enough to be scammed?
Probably consumer protection...
Reddit is trying to profit off everyone they can, and these idiots are about to tie real name and contact info to their reddit profiles.
That makes the data reddit has much more valuable to people who buy data.
Europe has a shitload of requirements that shares must meet in order to be sold to your average private person, including stock info in your native language, and a proper risk assesment.
Bro if you want to lose money, you can just send it to me.
I'd move to Europ again to avoid this. Probably would be cheaper too.
Nope, needs more goo
It's a US company
That's not relevant to whether someone can buy stock. Lots of Europeans own stock in American companies.
Apparently it is, because Europeans cannot buy these stocks.
But feel free to inform me that they can.
That also has to have an address somewhere in Europe to operate in it. Do you think Facebook/Amazon/Microsoft dont have offices in the EU? Usually American companies will open European offices in Ireland because they have lower corporation taxes.
None of that changes the fact that it's a US based company.
I'm still buying puts.
Ah… found the WallStreetBets refuge
Part of me hopes none of them are dumb enough to fall for this. Part of me hopes redditors somehow end up as the majority owners of Reddit and either a) return it to being a good website or b) wreak absolute havoc.
I would love a good pump and dump tbh
ELI5 How would a pump and dump work here. If you buy stock to pump it up then everyone dumps. Isn't it just back to where it started in value?
For that to happen the pre-IPO price would have to be lower than the perceived peak which is a gamble here. The goal would be to buy as much as possible and sell it as soon as it goes up to make a profit off of it, and be rid of it before you’re left when it crashes. The problem I see is that window is hopefully gonna be very short and you’re not gonna be able to time it. So it’s a serious risk.
Well you can do this risk free if you understand the bare minimum of how to use a stock trading account.
Once you have your shares you immediately put a limit sell trailing percent or dollars order on the security. What this does is automatically sells the stock the very second it drops by the amount you set.
So with reddit you set it to sell at something like 2% and then the second it drops below that you cash out with your money.
They seem to imply they dont want to even sell that many shares if its too popular so theyre probably precisely rigging it in their favor.
They're going to pump and dump their own userbase?
That surely won't backfire this time.
It's all about perspective. There's no backfiring if your goal was to make money with no regard to the longevity of the platform.
Do you think Reddit cares if the platform tanks after they make all their money?
So this is how they are going to "pay" users.
Ding ding ding ding - yes, with the "option" for users to pay them. It's a Trump/Musk/Spez specialty: do whatever the fuq you want, but make it sound nice and people will be lining up just to fall for it.
I would add the joke "What's next - crypto?"... but at this point that is not even funny anymore:-(.
Reddit tried a crypto thing. "Community points". I believe they killed that program before even rolling it out too far.
https://web.archive.org/web/20230201233950/https://www.reddit.com/community-points/
Wasn't there also some sort of talk about doing NFT shit with the godawful "snoovatars"?
Yeah, that was a thing too. I don't remember the details of it though
Yeah that's why it isn't even funny, b/c it wouldn't be "next" - they have ALREADY TRIED THAT.
This is the scheme that they are doing AFTER the crypto scam!
Like, at what point do you stop making fun of somebody and just start pitying them instead? (To be clear, so long as we are talking about spez, the correct answer will always be "never":-P)
I'm very sad I can't reply to this.
You put your reply into the only place that matters to us: the Fediverse:-).
🥹🥹
Nobody commented on my battery. Nice.
That's because those are rookie numbers. Real ones wait to make a screenshot post until their phones are at 2%
Hold my charger.
26% seems fine compared to many I've seen before.
Charge yer phone
"This special program lets redditors purchase stock!"
Wow, you're gonna LET ME GIVE YOU MONEY? Go fuck yourselves