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Reddit guides IPO may price at top of range or above, source says (finance.yahoo.com)
submitted 2 years ago by to c/technology@lemmy.world
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Get your shorts ready, this will be very interesting to follow. Seems like the stock will appear tomorrow already?

I fully expect a nosedive in stock price but who knows. Maybe a pump and dump.

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[–] 12 points 2 years ago (1 child)

They are essentially selling that percentage of the company to the public at large. Not enough for any shareholder to have any power over it, but enough for the company to get some spending money.

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  • [–] 12 points 2 years ago (1 child)

    Which would be good considering they can’t make a profit. Although, I wonder how that makes them worth anything. The intricacies of legalized gambling and money laundering escapes me.

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  • [–] 2 points 2 years ago (2 children)

    They're making money. It's just not a really high amount.

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  • [–] 4 points 2 years ago (1 child)

    Source? All the ones I can find say they're still losing money. 800M in revenue but 940M in expenses for 2023. https://www.marketwatch.com/amp/story/reddits-ipo-raises-questions-about-profitability-heres-how-it-makes-money-01f73f04

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  • [–] 4 points 2 years ago* (last edited 2 years ago) (1 child)
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