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Reddit wants to raise $748M with IPO, sets value at $6.4B (go.theregister.com)

submitted 8 months ago by jeze@lemm.ee to c/technology@lemmy.world

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[–] bus_factor@lemmy.world 15 points 8 months ago (1 children)

Days? When my company went public employees couldn't sell their stock for several months. And as soon as we could the price tanked, because everyone wanted to cash out.

The selling was understandable, having 80% of your net worth in a single stock is scary, but hundreds of first-time stock owners doing a fire sale didn't do the stock price any favors.

[–] wintermute_oregon@lemm.ee 1 points 8 months ago

By the time we could sell. The stock had already dropped. It never really recovered after that