You think Reddit is gonna sabotage Reddit's stock after it goes public? : reddit

this post was submitted on 15 Jun 2023

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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

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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.

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[–] 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

[–] DaedalousIlios@pawb.social 1 points 2 years ago

Imagine if this all turns out to be petty revenge from Wallstreet for Reddit thwarting their Gamestop ploy.

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