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