ReedReads to Reddit@lemmy.world · 9 months agoNow that Reddit's IPO is done, what is the over/under on when old.reddit.com gets killed?message-squaremessage-square34fedilinkarrow-up1143arrow-down12file-text
arrow-up1141arrow-down1message-squareNow that Reddit's IPO is done, what is the over/under on when old.reddit.com gets killed?ReedReads to Reddit@lemmy.world · 9 months agomessage-square34fedilinkfile-text
minus-squareroscoe@lemmy.dbzer0.comlinkfedilinkarrow-up6·9 months agoAre his shares restricted? The way I understand it, usually insiders aren’t allowed to sell until some time after the IPO.
minus-squarehaui@lemmy.giftedmc.comlinkfedilinkarrow-up6arrow-down2·9 months agoHe already sold over 500.000 shares, same as his CFO iirc. Classic pump and dump. Reddit is 25% down, below initial value. From an article I read today.
minus-squaredubyakay@lemmy.calinkfedilinkarrow-up1·9 months agoHe still kept majority of his shares. Like the previous poster said he can’t sell more or SEC will grab him by his tiny balls.
minus-squarehaui@lemmy.giftedmc.comlinkfedilinkarrow-up1·9 months agoJeez. I thought insiders werent allowed to sell at all for x amount of time.
minus-squareJohn_McMurray@lemmy.worldlinkfedilinkarrow-up2·9 months agoThey aren’t. But, you can set a number to sell at the IPO. You can’t dump the rest a week later if the price sky rockets.
minus-squarehaui@lemmy.giftedmc.comlinkfedilinkarrow-up1·9 months agoInteresting! Thanks for mentioning it.
Are his shares restricted? The way I understand it, usually insiders aren’t allowed to sell until some time after the IPO.
He already sold over 500.000 shares, same as his CFO iirc. Classic pump and dump. Reddit is 25% down, below initial value. From an article I read today.
He still kept majority of his shares. Like the previous poster said he can’t sell more or SEC will grab him by his tiny balls.
Jeez. I thought insiders werent allowed to sell at all for x amount of time.
They aren’t. But, you can set a number to sell at the IPO. You can’t dump the rest a week later if the price sky rockets.
Interesting! Thanks for mentioning it.