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Reddit Insiders Selling Days After IPO; Shares Fall

https://www.investors.com/news/technology/reddit-insiders-selling-days-after-ipo-shares-fall/

Reddit CEO Steve Huffman and other top executives and board members late Wednesday disclosed share sales, just a week after the social network had in its initial public offering. RDDT stock fell early Thursday.

Reddit CEO Steve Huffman sold 500,000 shares on Monday at an average $32.30 price, receiving $16.15 million. CFO Vollero Andrew sold 71,765 Reddit shares for $2.318 million. Chief Operating Officer Jennifer Wong sold 514,000 shares for $16.602 million.

Chief Technology Officer Christopher Slowe sold 185,000 shares for $5.975 million. Chief Accounting Officer Michelle Reynolds sold 3,033 RDDT shares for $97,966. Board member David Habiger sold 3,000 shares for $102,000.

All told, that's $41.245 million worth of Reddit shares sold.

At least some Reddit share sales by CEO Huffman and other key officers was expected.

Reddit Stock

Reddit stock fell 4.5% to 55.15 early Thursday. Shares tumbled 11.3% to 57.75 on Wednesday. Reddit hit a record 74.90 intraday Tuesday.

The RDDT IPO priced at 34 a share on March 20, at the top of the expected range.

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Anyone who thought this wasnt just a cashout for the top dogs is incredibly naïve. They couldnt sell it so this is the next best thing.

Reddit will end up like so many other internet giants, offloaded to some IP farming conglomerate for pennies and ultimately just a footnote in an econ textbook

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Reddit will end up like so many other internet giants, offloaded to some IP farming conglomerate for pennies and ultimately just a footnote in an econ textbook

says increasingly nervous man

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Do you see any other possible trajectory?

Like hordes of tiktok brained gen alpha users are gonna descend onto a shitty messageboard

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At least some Reddit share sales by CEO Huffman and other key officers was expected.

I fricking hate illiterate journos :marseyraging:

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!writecel what's the correct way to write this in AP format?

At least some sales of Reddit shares were expected to be sold by Huffman et al

Huffman et al were expected to sell at least some of their shares

A sale of at least some shares was expected by Huffman et al

?????

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AP is a :marseytrain: org frick them :marseyindignant:

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Are you confused between the Associated Press and the American Psychological Citation :marseyconfused: It's also not a ctation.

Usually, the active voice is preferable because it emphasizes the person taking the action, but in an article about Reddit's share price it's reasonable to emphasize the shares instead.

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:#marseypikachu2:

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@WootFatigue shouldn't've listened too rDrama and bought Reddit shares when offered. @WootFatigue say this as a feminist ally.

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Didn't the shares offered have a no sell clause for like a month?

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Jannies left holding the bag, not even for free, but paying to do so :marseyspezpat:

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That's pretty funny if true, since the volume is looking pretty :marseyoscar: and those OTC sells at ~$20 below ticker are kinda :marseybear:

Predict a nice spike down for the big jannie shakeout. Could actually be the time too buy.

Trump for prison

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Get those bags, kings.


Transform your Marseys! :marseywave:
/e/marseybooba.webp
www.pastebin.com/Jj9URfVi

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Good thing I forgot to buy

:marseysweating:

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i hodl forever because i have nothing to let go of

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Hey, I saw that you just joined rdrama and a group of people who hate me are trying to smear my name by calling me a date male feminist. I just wanted to let you know that it's not true. If you want all the receipts proving it they're right here.

The TL;DR is that I hooked up with one of the hot girls on rdrama, and since I was twice her age, a lot of the guys here who wanted to bang her got jealous and assumed that the only way I could have managed that was by raping her, even though she herself said both before and afterwards that it was all completely consensual. So now that you're the new hot girl on rdrama, I guess they think that I'm going to somehow seduce you into flying all the way across the country (or some crazy shit like that) to hook up with me and they're trying to talk shit about me to make sure that doesnt happen. I don't understand it either, but I just wanted to let you know that I'm a nice guy and I hope you'll look at the evidence and make up your own mind instead of listening to all the jealous haters.

Anyway, with that little intro out of the way, welcome to rdrama! The culture's a little rough here and you're probably going to get tons of requests to •show boobsU but if you talk to some of the women here first before engaging with all the creepy dudes, they'll give you some good advice to avoid stalkers and predators. Or (If you haven't been scared off by the rumor mill) you're welcome to ask me and I'm happy to help.

Just out of curiosity, how did you find this place?

Snapshots:

https://www.investors.com/news/technology/reddit-insiders-selling-days-after-ipo-shares-fall/:

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