Reddit shares are plummeting from the rally highs experienced after the social messaging company's IPO last week.

This post tightly fits what I want to see in this community. Anti-corporate sentiment and “good news” for non corporate entities.

  • CyberSeeker@discuss.tchncs.deEnglish
    13·
    6 months ago

    Frankly, surprised it was only that much of a drop.

    Earlier this week, Reddit disclosed in a corporate filing that CEO Steve Hoffman sold 500,000 shares, and Reddit COO Jennifer Wong also disclosed that she sold 514,000 shares.

    No, not a pump and dump at all! Totally confident in our ability to execute our fiduciary duties!

    • Gladaed@feddit.deEnglish
      3·
      6 months ago

      If you are not emitting shares to raise money there is very little upside to going public except for your owners to be able to sell their shares.

    • paraphrand@lemmy.worldEnglish
      2·
      6 months ago

      Spaz said his friends advised him to sell at least some, otherwise it would’ve drove him crazy.

    • haui@lemmy.giftedmc.comOPMEnglish
      01·
      6 months ago

      Omg! I havent seen this! Its so ironic. These people get bolder and bolder. In case anyone wonders why this community exists! 😂

      • lud@lemm.eeEnglish
        2·
        6 months ago

        Omg! I havent seen this!

        It’s in the article you linked…

        • haui@lemmy.giftedmc.comOPMEnglish
          21·
          6 months ago

          I know. I obviously havent read it slowly enough to catch that. Thanks for pointing it out.