Reddit Prices I.P.O. at $34 a Share, in a Positive Sign for Tech
Reddit Prices I.P.O. at $34 a Share, in a Positive Sign for Tech
The social media company raised $748 million in the offering. Its shares begin trading on the New York Stock Exchange on Thursday.
Reddits stock price will go up slightly after IPO and then tank.
It'll probably peak at about $50-60 in June, and then be $5-6 by 2027.
I base this on nothing.
Oh, so a professional finance talking head.
That is very similar to what this bobblehead says: https://youtu.be/gUiLuHvbC64?si=ncxEH2Y98h0bPzXr
You are probably in the wrong line of work, friend.
(Full disclosure, I couldn't watch it all the way through though as watching idiots talk about this stuff almost made me throw up a little. If they talk about specific numbers, it's going to be past the halfway point after the "expert" talks about red-i-tors.)
Here is an alternative Piped link(s):
https://piped.video/gUiLuHvbC64?si=ncxEH2Y98h0bPzXr
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I'm open-source; check me out at GitHub.
I say it has tanked by late next year. Source: my gut.
If it goes that low, anyone would be stupid to not buy. I think FB went down to around $15 not long after their ipo somewhere between $30-$35.
I'm pricing my right sock at $5,000.
Doesn't mean anyone will buy it. Let's see how it trades in the long term.
All you have to do is find a buyer who only has a left sock and you're in business.
I was completely hammered blacked out once and lost a sandal and bought a guys one sandal. Next day realized I now have 2 mismatched sandals and could’ve just bought both of his.
We should start a Sock Market. We could sell long socks, short socks.... Think of the possibilities
And a machine to minify the short socks - we can even call them short squeezers
There is at least one idiot born every second on the planet.
After a series of community revolts and a revolving door of chief executives, by 2015 Reddit had more than 100 million users but only $12 million in annual revenue...
...Perhaps Reddit’s biggest obstacle to a smooth I.P.O. has been its users. The thousands of forums, or “subreddits,” that make up the site are overseen largely by a volunteer force of moderators. Some have resisted the idea of Reddit’s being a public company, concerned that market forces and the quarterly demands of shareholders will corrode some of the features that made the site so attractive to them.
Apparently the community revolts were ended by 2015, and the recent issues have just been unspecified "resistance to going public". That thing that was national news 9 months back, and was also reported about in the New York Times, somehow didn't merit a mention.
Mike Isaac has covered Reddit since 2010 from San Francisco.
By "covered Reddit" does he mean wrote articles with whatever comment was most upvoted on a topic? Because he certainly didn't demonstrate a particularly deep understanding of Reddit in this article.
Thanks, updated the links
Lol, that headline