Reddit Inc.'s stock-trading enthusiasts made it a household name by backing companies that Wall Street wouldn’t. For Reddit’s own initial public offering, a group of them are about to flip the script.

In the days after the social-media company filed for an IPO, thousands of members of the WallStreetBets forum — which boasts around 15 million users and helped popularize meme stocks like GameStop Corp. — voted to boost a forum post about shorting the company, a sharp reversal of their typically bullish ways. Their avowed reasons varied from the company’s lack of profitability to competitive concerns, and mostly centered on spite.

(paywalled on Bloomberg website)

  • TropicalDingdong@lemmy.world
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    8 months ago

    This is horse shit. WSB is not a meme stock forum.

    Its a piss drinking forum with a gambling problem, get it straight.

    Also, as a previously highly active meme poster within said community, I begged Reddit to IPO so I could buy puts in the daily thread everyday.

    Also, just like literally every other forum and sub that exists, WSB isn’t a monolith. It can seem that way because some voices are louder at times, but I assure you, some other degenerate piss drinker is on the other side of your losing 0dtes.

    For the uninitiated:

    https://v.redd.it/wu2mkr3e8uv41/DASH_1080

    • spider@lemmy.nzOP
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      8 months ago

      This is horse shit. WSB is not a meme stock forum.

      Its a piss drinking forum with a gambling problem, get it straight.

      Hey, I ain’t Bloomberg; take your complaints to them.