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Reddit Insiders Selling Days After IPO; Shares Fall
(www.investors.com)
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this post was submitted on 28 Mar 2024
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From my experience, these people have lots more shares than what they sold. And aside from spez, it's not really that much.
If I am not mistaken, these sales are also planned and public knowledge before the sales are executed. The key shareholders should know executives are going to dump stock.
But yes. This seems normal to me.
One thing of note is the average price spez sold for. That is actually below market value so it's likely that his sale price was fixed, which I believe is a thing.
Yes. Insiders with that high a fraction of ownership exercise the ability to sell shares at a predetermined percentage value of a full priced share. Usually pegged to the closing price at the beginning or end of a quarter, whichever is lower.
I hate these fucking people so much.
At least they are destroying their own place, now lets hope they just become rich nobodys and keep their greedy fingers of everything else.
I don't. Such as the nature of living in the conservative fascist multiverse.
You cant expect everyone to stop wanting to crush the weak just because you were born in a era of unprecedented technological advancement. Feudalism is still alive and well in some parts of the world, and it has been going strong throughout human history. For all we know, it will outlast democracy.
We are cavemen and cavewomen with space ships and computer phones. Stop having such high expectations for us dumbasses.
This is just you saying that you would crush the weak if you had the opportunity so you empathize with those that do.
When I was poor and complained about inequality they said I was bitter; now that I'm rich and I complain about inequality they say I'm a hypocrite. I'm beginning to think they just don't want to talk about inequality.
Some of these people have been with Reddit since the very beginning and this is basically their first practical chance to sell any of their shares - I wouldn't read too much into their activity this week. For a company valued at $9B, having the founder & other executives only sell $41M in the week of the IPO if anything feels like the opposite of dumping.
I was thinking short sellers looking to profit would buy up as much as they could to make a bubble then short sell once the market started going sideways, and this chart seems to accurately reflect that:
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