Reddit Insiders Selling Days After IPO; Shares Fall

He sold about 500,000 shares. He owned, apparently, 3.3% of the 17.06 million total shares of the company, meaning he had a little over 562,000 shares. He sold almost all of his shares. That doesn't exactly exude confidence in future growth, IMO.

Question: why was Apollo killed?

Answer: Spez wanted $16 million dollars

I've given up on buying stocks for individual companies. I'd rather just stuff it in an index fund and pretend it doesn't exist for 10 years.

Aaron Swartz would loathe what Reddit has become.

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First the pump, here comes the dump.

Shares "dove" to $50, which is still about $49 too high

Gee it is almost like completely alienating your user base is a bad for profits?

They dumped $50 million the same week as the IPO? Talk about confidence in your company!

Also, they didn’t have any lockout period? That’s also bullshit. I worked for a company during an IPO some years back and nobody could sell their shares for something like a year!

Oh my gosh! Who could possibly have foreseen that?

I won't lie, I do regret not making a quick buck off of it. I could have gotten in at 30-something and out at 40-something easily enough.

I just couldn't stomach the thought of buying RDDT. I also guessed Pigboy Spez and his pals would leave us suckers holding the bag.

Turns out some brave peasants did make money on the IPO. Just not this peasant.

I suspect the stock will spiral down from here.

I bought put options on Monday. So far the stock is doing exactly what I thought it would do. I expect to see it at 25 a share before they expire in a few months.

Anyone who bought that shit deserves to lose all their money.

Nothing made me wanting to spend time and effort generating free content more then the IPO.

Make your own damn money.

Spez will probably quit within a year or two.

Man I wish I had had the capacity to short the stock so much.

Rats cashing out before it swirls down the drain

Wait, there was no (or a very short) lockup period????!??!?!?!

IPOs are cash outs these days

It’s a scam, regards.

Wow it's almost like we called it

What an unexpected outcome! Who would’ve thought.

Smallest violin, where are the insufferable hodl guys now?

lol. Get rekt, Reddit

r/wallstreetbets strikes again!

One of the only reasons I am ok with Reddit still existing.

Lol.

Reddit CEO Steve Huffman sold 500,000 shares on Monday at an average $32.30

On Monday the 25th, Reddit shares were trading between ~$49 and ~$59. The stock has not yet dropped below the initial price of $34.

Can somebody explain why these shares may have been sold below market value?

is there a way to do the opposite of to the moon GME? What's the opposite of that? Crash & Burn 🪨🔥🪨🔥🪨🔥

Oh no it's only up 40% since their IPO 3 days ago :(

Heavens knows pre IPO lockup expiration won't be distinctly negative, that's unheard of.

Fuck that utter hurensohn.

Wait, what’s “reddit”? Is this something i’d need the internet to know about?

Oh. Oh no. How tragic.

Uh.

.... Anyways.

lol good

Yeah totally didnt see that coming /s

So much confidence in Reddit's potential! hope it burns down very soon.

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This is how the prices new tech IPO’s have always gone. Surge on opening, then huge drop and then sometimes if they’re lucky a VERY slow rise back up. With a stock like Reddit everybody expected a pump and dump from the WallStreetBets people that made GameStop famous.