Based on watching previous IPOs, it will initially climb, as interested investors take on positions, probably a day or two. They’ll probably actively support a bid price when it tails off, buying shares in a price range trying to stave off a big drop which might cause a big divestment and lead to short attacks. I’d probably watch this like the “shit beta” stocks, as it has potential for weaponized trading given its recognition.
If it can’t climb quickly, probably going to see a blood bath as people scramble to get out when they can.
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The shares are expected to begin trading on the New York Stock Exchange on March 21, 2024, under the ticker symbol “RDDT.” The offering is expected to close on March 25, 2024, subject to customary closing conditions.
I might have to watch some CNBC tomorrow could be good for some laughs. Hope it tanks
We all hope this does poorly, but reddit has an ai training model goldmine it's sitting on, and investment opportunities for people who want in on ai are confusing.
It's really all that it has, but it's probably gonna do well for as long as they keep the ai bots off reddit, which poisons that well.
Can reddit actually defend that database? Almost all the comments are public and they don't actually own the copyright to other people's words so I don't think they could sue someone who scraped them. I suppose by going through Reddit the buyer would protect themselves from the users suing, but that doesn't seem like a huge risk.
Nah it will drop but I bet it’s gonna be a few days before it reaches the low tens. Then the real grind starts with months/years to try to regain value back to the overinflated IPO price.
We’ve seen it with plenty of stocks that IPO’d. This is not unknown territory. There is value in Reddit and there is profit to be had, but it is very under water and overvalued right now.
Investors will dump, employees will dump, price will tank to maybe 20-25$ the first day (after raising for a couple hours I predict, maybe even to 40+$), then a week after the IPO it will be 15-$.
But who the fuck knows. Markets are irrational and it could go down to 5$ the first day as mods and WSB start shorting it and making a mess on social medias.
Yeah you're right actually. The stock market is not the economy. So it's possible that it will even grow and such. I hope they can AI all accounts so we can be free to shit post about reddit here. 😂.