this post was submitted on 15 Jun 2023
12 points (92.9% liked)

Reddit

13623 readers
1 users here now

founded 6 years ago
MODERATORS
norz@lemmy.ml
12
You think Reddit is gonna sabotage Reddit's stock after it goes public? (lemmy.ml)
submitted 2 years ago by vis4valentine@lemmy.ml to c/reddit@lemmy.ml
8 comments fedilink hide all child comments
 

I was thinking about how shitty it is that Reddit is going public, but then I remembered, Reddit has WallStreetBets, you know, the guys tho made GameStop stocks to skyrocket and crash every single wallstreet investor who was shorting on GameStop?

I think there is a huge possibility that the moment Reddit goes public the community will immediately make it crash it even worst (for reddit as a company) pump and dump it. The community is pretty pissed rn and I think it's kinda stupid to make a company public when we know what they are capable of and how petty they are.

you are viewing a single comment's thread
view the rest of the comments
[–] Kalkaline@lemmy.one 5 points 2 years ago (3 children)

Can't short a stock until you buy it.

[–] qprimed@lemmy.ml 3 points 2 years ago

well, "borrow" it, but yeah. I get ya.

[–] PigglyWiggly@sh.itjust.works 2 points 2 years ago* (last edited 2 years ago)

you can, its just mildly illegal to do directly. you can do it indirectly through derivatives though

https://www.investopedia.com/terms/n/nakedoption.asp

[–] god@sh.itjust.works 1 points 2 years ago

and shorting doesn't actually make the price go down necessarily