Asking because I got it and I’m not really sure what to do. So, I wanted to see what strangers on the internet are going to do.
I don’t have an existing e-trade account and I’m not super excited about creating one for the singular purpose of this IPO. But, if I can quickly make a couple of bucks and then cash out, that might be worth it.
Are there rules to when you cash out if you get in at the IPO price? Could I buy-in at the $30-ish/share price and couple that with a trailing stop-loss order? Maybe this isn’t the right Lemmy community to ask this, but I figured I’d give it a shot.
Nope. That I even got one shows how bad Reddit knows their userbase: I got the invitation even though I don’t qualify.
Not an expert, so don’t listen to me at all.
The closest analog recently is probably Facebook’s IPO in 2012. They were profitable that year, and the stock price still dropped by up to 50% in the first few months. The business is healthy, and the stock is fine now, but don’t count on a quick buck in the first few weeks/months.
I wouldn’t even if eligible. The old investment rule of thumb never jump onto an IPO that you can get in on easily is even more relevant here.
I personally wouldn’t want to get involved because Reddit seems an IPO based on hype more than numbers. Usually IPOs buying slots are reserved, or have various restrictions. I haven’t looked at the offering so can’t tell you the finer details, but the chatter of reddit being a great place for market picks seams to be cooling (which imo was the basis for IPO hype) and often on a losing IPO the institutional guys are able to outmaneuver the small guys to avoid being held with the bag.
Is there a lemmy wallstreetbets, and if so, how is this not a post in it?
I would wish you luck in investing, but honestly, I would rather watch reddit quietly burn than them start developing some new horrors of monetization.
Is there a lemmy wallstreetbets, and if so, how is this not a post in it?
I didn’t come across one and I haven’t been on reddit since Apollo shut down. So this is as good as it’s gonna get, I guess?
My thought was that if I can get in on that initial upswing and out before the stock inevitably tanks, i’d like to do that. If not, I’ll just pass on the whole thing.
I’ve played dumb stock moves and am not qualified to give trading advice.
Enjoy your time at the casino and try not to lose your rent money.
My bet is that the starting value is over inflated and it drops instantly.
I hope they look to the failure of Robinhood and wish things went that well for them.
Why would I give them a vote of confidence with my money so that they can use it to convince investors that they’re popular and they should pony up a billion dollars for Spez’s pay?
They’re relying on gullible people who think either Reddit is legitimately a good investment or gullible people who think they can beat the market and won’t be left holding the bag. I’m nobody’s bag holder, let alone Spez’s.
if I can quickly make a couple of bucks and then cash out, that might be worth it.
Said every gambler ever.
