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
    75•3 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!

      • @Vigilante@lemmy.todayEnglish
        6•3 months ago

        Yeah i was wondering about that then i thought i may be wrong as i only say “fuck you spez” but i guess i’m not wrong.

    • paraphrandEnglish
      7•3 months ago

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

    • @Gladaed@feddit.deEnglish
      4•3 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.

    • hauiOPMEnglish
      2•3 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
        4•3 months ago

        Omg! I havent seen this!

        It’s in the article you linked…

        • hauiOPMEnglish
          1•3 months ago

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