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Reddit shares plunge almost 25% in two days, finish the week below first day close (www.cnbc.com)
submitted 2 years ago by to c/reddit@lemmy.ml
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[–] 89 points 2 years ago (3 children)

Well, spez and the COO sold over a million shares. I thought they'd be tied down by some kind of lock-in period.

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  • [–] 70 points 2 years ago (3 children)

    Considering that 'opportunity' they gave to long term reddit users it seems like this fleecing was planned from the get go.

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  • [–] 16 points 2 years ago

    I mean, an IPO is a pretty reasonable point to allow insiders to trade. You've just published a huge amount of information about the company, so the insider advantage is at a relative low. It's somewhat common for blackout periods to exist prior to things like earnings announcements, but after the announcement is usually when trading is permitted.

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