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.
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.
Indeed. A hot IPO doesn’t need to advertise to the average user.
It will drop instantly. Why do you want to hold the bag for spez?
I wouldn’t bother unless it’s a small amount of play money you are willing to burn. Reddit has so far not managed to turn a profit after 19 years and Reddit management does not inspire confidence or present themselves as particularly competent. If this is your first investment you would be way better off opening an IRA and buying some VTI or VOO instead of gambling on a risky IPO.
I got it even though I’m in Canada so I couldn’t if I wanted to. Ignoring that though, I wouldn’t. I doubt it will fail as people hope it will but I can’t see it doing well
If you don’t hold the stock for at least a year you will pay a higher tax rate. I’m not a financial advisor.
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.
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.
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.
Thanks for this comment. I agree that a “quick buck” is not the play, if there is a play to make at all. I’ll read the prospectus tonight. Maybe that will help me with my decision. Thanks again for commenting.
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.
There is https://lemmy.whynotdrs.org/ but it seems pretty quiet
Fuck no, I’m here to see them crash & burn.
I got the email, but it’s for us residents only. I’m a U.S. citizen, but I haven’t been a resident in over a decade. At the very least, I actually appreciate that they’ve offered to provide something in turn for my unknowing contributions to their AI data base over the years when it feels like data harvesting is just a corporate entitlement these days.
I got the email but I’m not a U.S-citizen so I’m not qualified.
Still, I wouldn’t bet good money on Reddit going up in value during the IPO. If you know something the rest of us don’t, by all means, do share.
I live outside the US so I am ineligible to purchase but I still got the email. Marked it as spam and moved on.
If it were me, I’d take whatever money you were going to put in this and invest it into a very diversified index or mutual fund like the S&P 500. And sit on it for decades.
Less volitile, and you’ll grow earnings over time instead of gambling on an individual stock. (Also, don’t forget capital gains taxes)
My bet is that the starting value is over inflated and it drops instantly.
Initially, that happened to Facebook too. Yet years later, here we are.
I hope they look to the failure of Robinhood and wish things went that well for them.
Not American, so I’m not eligible. If I was eligible, there doesn’t seem to be an option to respond by saying Get Fucked, so I wouldn’t bother responding.
