I got an email from reddit to the address for one of my old Reddit logins. The text, in part, when visiting the URL they provided (had to be logged in, not all of my old handles could see it):
Yes, it’s really happening this time, and as we take the next step toward becoming a public company, we’re inviting all eligible redditors to participate in Reddit’s IPO.
“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 tell us we must follow specific rules listed below.
Our Directed Share Program (“DSP”) is set up to let eligible users and moderators own a piece of Reddit by purchasing Reddit stock at the same price as institutional investors when we IPO. We will offer this opportunity to as many redditors as we are able to accommodate, and the number of people who can participate is limited.
Just looked, they’re going nuts. CNBC has a clip mentioning that wsb could introduce volatility: “The site’s WallStreetBets chat room was the epicenter of the meme stock craze in 2021, as users urged one another to bid up stocks such as GameStop and AMC Entertainment.”
I hope they actually do wreak havic.
They, themselves, listed it as a risk in their prospectus filing with the SEC:
So they’re already preparing an alibi if/when things tank. [The Google licensing thing changes things a bit and I haven’t processed it quite yet.]
deleted by creator
deleted by creator