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Reddit files to list IPO on NYSE under the ticker RDDT
(www.cnbc.com)
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this post was submitted on 22 Feb 2024
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Interesting that they're offering to let me buy shares at the IPO price...
Spez is straight up luring the userbase into a rug pull scam.
Plenty of rubes will fall for it and the stock will be overvalued for a short period of time, then the institutional investors will pull out, then the rubes will panic sell, then institutional investors will slowly buy back in a little bit and it'll eventually reach some kind of baseline but never get back to where the redditors bought in at.
I just hope I can get some good puts in before the rug pull happens.
“You have to be in our exclusive club to buy our stock at the same IPO price you can get through Robinhood.”
I'd wait this one out 🤣
IIRC Vonage tried that too, because the folks in charge knew the IPO was going to fail spectacularly and wanted more rubes to put in some money.