vegeta@lemmy.world to News@lemmy.world · 1 year agoTrump's coming stock bustwww.businessinsider.comexternal-linkmessage-square10linkfedilinkarrow-up124arrow-down10
arrow-up124arrow-down1external-linkTrump's coming stock bustwww.businessinsider.comvegeta@lemmy.world to News@lemmy.world · 1 year agomessage-square10linkfedilink
minus-squareFlying Squid@lemmy.worldlinkfedilinkarrow-up2·1 year ago There are plenty of reasons to believe it won’t stay up there. Reason #1: It has never made money and it never will make money.
minus-squareFlying Squid@lemmy.worldlinkfedilinkarrow-up0·1 year agoYep. spez and the CFO sold hundreds of thousands of shares and r/wallstreetbets were planning on shorting it pretty much the second the IPO was announced months ago.
minus-squareClanOfTheOcho@lemmy.worldlinkfedilinkarrow-up0·1 year agoIsn’t there normally a restriction from executives selling stock for a period of time after an IPO?
minus-squareOutsizedWalrus@lemmy.worldlinkfedilinkarrow-up0·1 year agoI don’t really find that to be damning. They’ve been trying to turn a financial windfall for a while. That’s just them finally cashing out.
Reason #1: It has never made money and it never will make money.
Reddit has already come down.
Yep. spez and the CFO sold hundreds of thousands of shares and r/wallstreetbets were planning on shorting it pretty much the second the IPO was announced months ago.
Isn’t there normally a restriction from executives selling stock for a period of time after an IPO?
I don’t really find that to be damning. They’ve been trying to turn a financial windfall for a while. That’s just them finally cashing out.