SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)

submitted 10 months ago by cygnus@lemmy.ca to c/snoocalypse@lemmy.ml

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Now the social media platform is aiming for an IPO in the first quarter of 2024 with a valuation of $15 billion, and has been in talks with potential investors like Goldman Sachs and and Morgan Stanley, per Bloomberg.

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[–] BaronVonBort@lemmy.world 38 points 10 months ago (2 children)

Is it possible to short an IPO? I would like to say that this is going to lose value almost immediately.

[–] castlepeak@lemmy.world 6 points 10 months ago (1 children)

You can't borrow shares from ipo underwriters for 30 days so you can't short before that

[–] Pipoca@lemmy.world 1 points 10 months ago (1 children)

You might be able to do a naked short, though.

[–] FrowingFostek@lemmy.world 1 points 10 months ago

I might be on a list now for googing it but, here's a wiki article for non-finance people. https://en.wikipedia.org/wiki/Naked_short_selling?wprov=sfla1

[–] Grayox@lemmy.ml 1 points 10 months ago

Yes