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MD
Monday Dayton
@mondaydayton · Feb 25

Are you familiar with the social network Reddit?

This network, which I think is not so well known in our country, has at least one interesting story from the world of investment. The company recently announced its plan, its interest in going public.

The social media-focused company announced Thursday that it has filed paperwork with the Securities and Exchange Commission for its listing after years of preparation. It aspires to list on the New York Stock Exchange under the ticker "RDDT." Its listing is expected in March and will be the first major technology public offering of the year.

Among other things, the story that goes along with this network is, for those who don't know it, I recommend watching the Netflix movie/documentary Gamestop, aka ( The Money of the Dumb ). The story of how GameStop, an American video game and electronics retailer, inadvertently messed with the heads of Wall Street investors. In January 2021, it caused a stir when small investors managed to drive up the price of shares that had been short-sold by big investors. Recommended viewing! 😊

So who knows this story or has seen the film/documentary? And would you be tempted to buy it? Won't there be someone similar in the world who might want to emulate the famous "pussycat". 😃😸

BC
Bill Combs @billcombs Mar 1

I've seen the film and it's great. I only know Reddit from my friends. I'll definitely be watching the IPO as it's bound to be interesting😁

MD
Monday Dayton @mondaydayton Mar 4

We have it anyway, I don't personally use Reddit either but it's going to be a ride then in my opinion, mainly due to the fact that they'll offer some shares right away to their top users and that's how it will get into the hands of retail and who knows where they can drive it. 😁

AG
Alfred Gray @alfredgray Feb 26

Personally I use reddit very often, for me a very interesting company and a quality soical network.

MD
Monday Dayton @mondaydayton Feb 26

Really? ...so you think it might be an interesting investment? ...and otherwise, what kind of network is it, are there any interesting posts?

CB
Clifford Barclay @cliffordbarclay Feb 26

Go🏄GO

CB
Clifford Barclay @cliffordbarclay Feb 26

Just one more, or I'll try to ride the wave 🤔

CB
Clifford Barclay @cliffordbarclay Feb 26

I'll add https://www.investopedia.com/4-key-takeaways-from-reddit-ipo-filing-8599151

I would point out that a non-negligible number of shares will be at the IPO price for select users. What will they do with it then? That's a good question. I'd say they can unleash some decent fomo and sell. I'll wait and see.

MD
Monday Dayton @mondaydayton Feb 26

I just finished reading and by the way, thanks for the link. 👍 I don't know why I don't know this site at all, but I added it and I'll be following it, quite a bit of news there too and it lends itself to articles. 😊 Otherwise, yes, they do give away quite a few of their shares to the first investors, which is always a no no there when a new company comes on the exchange, but there's also how they say that somehow everyone who has an account set up by January 2 so they have the opportunity to participate in some other option for some number of shares. Which as you say, it would give enough people some sort of first hold advantage at a better price before going public and then a decent amount of FOMO could be unleashed, which is why I'll be watching too, but not joining right away. Of course, I'd rather believe that it's going to get driven up, only to have a proper crash. 😲

CM
Claude Malouxe @claudemalouxe Feb 26

Is the movie out yet? I thought it hadn't.

MD
Monday Dayton @mondaydayton Feb 26

Yeah, definitely check it out, you'll enjoy it. 😊

AY
Alden Yap @aldenyap Feb 26

Well Reddit is known for it and there are probably people who will buy it, but I don't see it as a stock in my portfolio at all. 😃

MD
Monday Dayton @mondaydayton Feb 26

Yeah, I'll just observe, I think it's going to be pretty volatile.

RR
Rickie Reeve @rickiereeve Feb 25

Could be Wallstreetbets' new favorite. 😃 I'm a bit surprised that they're not profitable after so many years.

MD
Monday Dayton @mondaydayton Feb 26

I'll admit I haven't looked at their numbers yet, because I'm certainly not going to jump right in, it's too risky in my opinion, but I'll keep an eye on it. Well, I think it'll definitely bring back the story. 😃