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
    0·
    8 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
      0·
      8 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.