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Reddit has announced an initial public offering, with an IPO scheduled for next month under the ticker RDDT. And on Wednesday, it announced a $60 million annual deal with Google to license content for AI training.
However, Reddit power users actually Interested in buying Reddit stock? Take a peek.
r/WallStreetBets is a subreddit with 15 million subscribers dedicated to meme-centric stock chatter, best known for the 2021 GameStop stock boom. The reaction was…cool, you might say.
”Can someone tell me how to short sell an IPO??,” one user posted on r/WallStreetBets about Thursday’s announcement.
Another user — a moderator with a Karma score greater than 300,000; I posted a screenshot I’m wondering if I should invest in the message I received from Reddit about joining the Directed Shares Program.
“Hard pass,” someone answered.
“The question is, Should you eat where you’re talking shit? ” Another mused.
“Only if you sell it for half price next week,” said another.
Over-in r/stockthe sentiment was equally frenetic.
“Please short it until it is delisted.”
“Please short it.”
“So, I can pre-register to acquire shares…but can I pre-register to sell short?”
“This is a septic tank filled with the stupidest monkeys, led by power-hungry, dull, and incompetent hacks. It’s hard to monetize.”
Of course, the small sample of teens who might post about stocks doesn’t necessarily mean good forward-looking advice. (Please, please do not use this for stock advice.)
And complaining about the social networks you currently post on is one of the most important activities for people who are very online.
What this means for Reddit’s IPO is anyone’s guess. But for now…lol.