meme

“Could Reddit be the Next Hot Meme Stock? Seeking Insights from Redditors”

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Reddit users wonder if the next big meme stock is Reddit itself Reddit invites power users in on its IPO, but other Redditors are also considering an investmentJeremiah Johnson says he has “an embarrassing amount” of Reddit karma. They’re also wondering if Reddit could be the next meme stock, which could prove lucrative or disastrous. Though she wasn’t invited to invest early, she plans to buy stock in Reddit once it officially goes public. “Reddit is really dependent on power users who moderate the site, and because they’ve given those power users actual power, power users did for a day or two literally make the site unusable,” Johnson said. Max Spero, a startup founder in his twenties, plans to buy Reddit stock post-IPO because he’s a fan of the platform, which he’s been using for 11 years.

“Reddit’s Public Offering: A Meme-Lover’s Dream for Traders and Trolls Alike”

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As Reddit finally files to go public, the company wrote in its S-1 filing that “meme stock” schemes on r/WallStreetBets could pose a risk to investors. The stock was so volatile, jumping more than 600% within days, that trading was halted multiple times. Retail traders tried to replicate the GameStop saga by investing in other heavily shorted stocks like AMC and Bed, Bath & Beyond, solidifying this phenomenon of trading “meme stocks,” to mixed results. This is a rare move that would let community members buy stock at the same price as institutional investors upon IPO. In 2023, Reddit incurred a net loss of $90.8 million, adding to the company’s cumulative deficit of $716.6 million.