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 personally wouldn’t want to get involved because Reddit seems an IPO based on hype more than numbers. Usually IPOs buying slots are reserved, or have various restrictions. I haven’t looked at the offering so can’t tell you the finer details, but the chatter of reddit being a great place for market picks seams to be cooling (which imo was the basis for IPO hype) and often on a losing IPO the institutional guys are able to outmaneuver the small guys to avoid being held with the bag.