this post was submitted on 05 Jul 2023
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Reddit Migration

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### About Community Tracking and helping #redditmigration to Kbin and the Fediverse. Say hello to the decentralized and open future. To see latest reeddit blackout info, see here: https://reddark.untone.uk/

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[–] gentleman@kbin.social 3 points 1 year ago (1 children)

@fivezero Holy shit that is one top heavy company. No wonder they haven't made a profit. I'm done with f u/spez but it will be entertaining to watch him continue to devalue the company. Fidelity downgraded the value and who knows what the Chinese investor Tencen thinks. It will be delicious to watch spez screw up his IPO. Desperation has gripped spez and its getting worse.

[–] BraBraBra@lemmy.world 0 points 1 year ago (1 children)

The downgrade isn't due to protests, it's been happening for some time.

[–] gentleman@kbin.social 1 points 1 year ago

@BraBraBra I’ve heard people say that. I’m aware that there have been previous reductions in value. My experience is that investors have the best access to a company’s information, often in real time in a situation like this, so I think the investors are baking in any user loss and loss of revenue even if they are not publicly admitting it.

@fivezero