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". 😃😸
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😁
Personally I use reddit very often, for me a very interesting company and a quality soical network.
Go🏄GO
Just one more, or I'll try to ride the wave 🤔
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.
Is the movie out yet? I thought it hadn't.
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. 😃
Could be Wallstreetbets' new favorite. 😃 I'm a bit surprised that they're not profitable after so many years.