A lot of Redditors hate the Reddit IPO
www.theverge.com
“Yea I’m not buying. But I will be watching it tank.”

A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock.::Reddit seems like a likely candidate for a meme stock. But the actual reaction suggests that r/WallStreetBets isn’t going to send the stock to the moon.

  • sugartits@lemmy.worldEnglish
    446·
    9 months ago

    This feels like another “Netflix are coming after password sharing, HOW DARE THEY, EVERYONE WILL CANCEL AND THEY WILL BE BANKRUPT IN 6 MONTHS” circlejerk we recently read.

    Then Netflix announces a pretty good quarter and all of a sudden these people are silent.

    This feels like it’ll be that. I could be wrong. But it really feels like the echo camber will lose its mind again in a few months when the stock is priced above zero and maybe actually doing quite well.

    • DingoBilly@lemmy.worldEnglish
      151·
      9 months ago

      Yep. Unfortunately companies have learnt they can get away with shitty practices. It is only thanks to government groups like the EU that some of them are being reined in, but even with them they get away with a lot.

      Without them I suspect we’d already have a matrix type scenario.

    • Grandwolf319@sh.itjust.worksEnglish
      82·
      9 months ago

      I just canceled a week ago.

      Please note that some of us are in family plans and it just took that long to convince everyone to drop Netflix.

      Sometimes it’s less of a burst and more of a slow burn.

      • sugartits@lemmy.worldEnglish
        62·
        9 months ago

        Anecdotal evidence is not evidence.

        Comments like yours was exactly what I was reading when everyone was losing their minds the first time around.

        • stoly@lemmy.worldEnglish
          4·
          9 months ago

          LOL can’t believe you got downvoted for talking about things you saw with your eyes. I saw those same things.

        • Grandwolf319@sh.itjust.worksEnglish
          32·
          9 months ago

          Yes, and I never claimed it’s the same as proper stats, just wanted to point out the outrage didn’t mean everyone canceled right away.

        • Mossheart@lemmy.caEnglish
          111·
          9 months ago

          They allow for multiple user profiles in one account and multiple concurrent streams. A family plan by any other name.

          • Trollception@lemmy.worldEnglish
            1·
            9 months ago

            When I think of a family plan I think of multiple people having a subscription with a discounted group rate, like with a cell phone carrier. What you describe is no different than a PlayStation having multiple profiles.

    • Maggoty@lemmy.worldEnglish
      3·
      9 months ago

      The stock market doesn’t reflect reality. It reflects the confidence of rich people in certain stocks.

    • stoly@lemmy.worldEnglish
      2·
      9 months ago

      LOL i remember how people would rage on Reddit about Netflix and act like they were the worst company with the worst lineup in all of history. Then the following month, subscribers increased. It really became a hate meme.

    • crypticthree@lemmy.worldEnglish
      1·
      9 months ago

      Well Netflix doesn’t publish viewership numbers, just subscribers so we have an incomplete view of how much of an impact the crackdown had