Reddit shares plunge almost 25% in two days, finish the week below first day close
Reddit shares plunge almost 25% in two days, finish the week below first day close
Reddit shares are plummeting from the rally highs experienced after the social messaging company's IPO last week.
You're viewing a single thread.
Well, spez and the COO sold over a million shares. I thought they'd be tied down by some kind of lock-in period.
Considering that 'opportunity' they gave to long term reddit users it seems like this fleecing was planned from the get go.
Quite frankly, this scam was so obvious, I have zero sympathy for anyone who fell for it.
Narrator: it was.
Did they?? Fucking grifters
Corpo exit scam?
I mean, an IPO is a pretty reasonable point to allow insiders to trade. You've just published a huge amount of information about the company, so the insider advantage is at a relative low. It's somewhat common for blackout periods to exist prior to things like earnings announcements, but after the announcement is usually when trading is permitted.