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this post was submitted on 20 Mar 2024
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I initially thought I might participate in the IPO. I’m still not over what /u/spez did last year but I justified it the same way I ever bet AGAINST my favorite sports teams. That way if they lose there would is still an upside. I don’t think Reddit will be a great investment. But if they are, hey, at least there’s some money in my pocket.
This would have been my first IPO. And what made me finally decide against participating was the recognition that buying into an IPO, unlike regular stock trading, is actually putting money directly into the company’s pockets.
Fuck that; fuck them; and especially fuck /u/spez.
I like dabbling in IPOs (read: gambling). IPOs are almost always a bad call for regular investors. The value almost never goes up immediately after sale unless the company somehow all of a sudden has demand from a ton of investors of all sizes. And a company that can't turn a profit isn't likely to be that.
So, if you do want to buy in because you see them doing good in the long run, maybe wait a month for the price to settle, then get in.