I don’t like the Reddit ownership which is exactly why I switched to here…but this article is a month old, they priced their IPO at $34 and it’s currently selling at $55
Obviously this doesn’t mean it can’t change in the future, but it very much has not tanked.
I’m not a stock expert, but given its historic lack of profitability, that value has to be primarily speculative based on its usefulness for training ai.
I would expect to see that number fall eventually.
Pump and dump bud
Or just as a marker of how reliant a lot of web denizens are to adding reddit to end of their search for more relevant user generated data. Either way, it’s numbers will fall, as a lot of the more recent data often isn’t correct.
Their capitalization was I believe around 8 billion. This is the number they need to understandably recover from an investment point of view. If I was an investor in a risky type of investment like this. Risky mainly in that it could be a dog forever, I would want to see 25 prevent profit in their financial statements relatively quick.
I am saying this all from an investment point of view of the people that now own it. More or less, Reddit needs to start showning profits of some 1.6 billion a year. That likely means they need 10 or 10s if billions in revenue per year. That will give you an idea what they will be developing and how advertising will need to be excessive. They will go the way of tiktok and other platforms in that emotional and divisive algorithms increase viewership.
The stock price is gonna get juiced for a bit, and then when the blackout period expires, lots of people are going to sell and the price will drop off a cliff. It’s a pretty common pattern in tech. I’m kinda expecting it to happen with Reddit.
It’s interesting the one place you aren’t seeing this discussed…is reddit. Which leads me to think it’s being suppressed to manipulate stock price. That’s illegal, right?
Illegal? Absolutely. Will they see any consequences for it is a different matter entirely, unfortunately.
Will they? Not a chance. But any large group talking about shorting it might, just as we saw with GME/AMC.
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If Arron was still here i bet he would do something awesome like give every user with 10000 or more karma some free stock, or completely give it away to all the users.
Kekw
Kinda hilarious to see WSB get short squeezed back after how high and mighty they got about how evil shorting is when it was happening to their stocks
