ReedReads@lemmy.zip to Reddit@lemmy.world · 3 months agoNow that Reddit's IPO is done, what is the over/under on when old.reddit.com gets killed?message-squaremessage-square34fedilinkarrow-up1140arrow-down13file-text
arrow-up1137arrow-down1message-squareNow that Reddit's IPO is done, what is the over/under on when old.reddit.com gets killed?ReedReads@lemmy.zip to Reddit@lemmy.world · 3 months agomessage-square34fedilinkfile-text
minus-squarehauiAlinkfedilinkarrow-up6arrow-down2·3 months agoHe already sold over 500.000 shares, same as his CFO iirc. Classic pump and dump. Reddit is 25% down, below initial value. From an article I read today.
minus-squaredubyakay@lemmy.calinkfedilinkarrow-up1·3 months agoHe still kept majority of his shares. Like the previous poster said he can’t sell more or SEC will grab him by his tiny balls.
minus-squarehauiAlinkfedilinkarrow-up1·3 months agoJeez. I thought insiders werent allowed to sell at all for x amount of time.
minus-squareJohn_McMurray@lemmy.worldlinkfedilinkarrow-up2·3 months agoThey aren’t. But, you can set a number to sell at the IPO. You can’t dump the rest a week later if the price sky rockets.
He already sold over 500.000 shares, same as his CFO iirc. Classic pump and dump. Reddit is 25% down, below initial value. From an article I read today.
He still kept majority of his shares. Like the previous poster said he can’t sell more or SEC will grab him by his tiny balls.
Jeez. I thought insiders werent allowed to sell at all for x amount of time.
They aren’t. But, you can set a number to sell at the IPO. You can’t dump the rest a week later if the price sky rockets.
Interesting! Thanks for mentioning it.