this post was submitted on 24 Feb 2024
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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.

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[–] Dasnap@lemmy.world 15 points 1 year ago (1 children)

I had a good laugh when I got an email through basically offering a preorder of Reddit shares.

[–] braxy29@lemmy.world 11 points 1 year ago

never did link my account to an email address. so that's an email i never got. 🙂

[–] ahriboy@lemmy.dbzer0.com 15 points 1 year ago (1 children)

Reddit is going bankrupt soon.

[–] TakiMinase@slrpnk.net 5 points 1 year ago (1 children)
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[–] toiletobserver@lemmy.world 13 points 1 year ago (1 children)
[–] PipedLinkBot@feddit.rocks 6 points 1 year ago

Here is an alternative Piped link(s):

Come on you apes

Piped is a privacy-respecting open-source alternative frontend to YouTube.

I'm open-source; check me out at GitHub.

[–] Tigress@lemmy.world 13 points 1 year ago (1 children)

Reddit is getting worse every day, for a while it was worth it, but sooner or later, everyone reaches that point where the cons outweigh the benefits

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[–] GhostFence@lemmy.world 12 points 1 year ago

Looking forward to seeing Reddit take a hit. They love to ban people for the silliest of reasons.

[–] Breezy@lemmy.world 9 points 1 year ago (3 children)

Dont theu just want it to crash hard so they can then buy into it at a cheaper rate.

[–] givesomefucks@lemmy.world 9 points 1 year ago

Why would the price go up?

The only way to make money is sell comments to AI developers, and users hate that.

It's completely unprofitable and the days of throwing tech bro money into bottomless pits is over

[–] ikidd@lemmy.world 5 points 1 year ago

You buy a put option and if it tanks, you sell the put and profit. Doesn't mean you actually end up with stock in the end. And why would you if you expect it to continue downward? Buying a long position is making the assumption that a stock is undervalued, and I guarantee you, if that stock goes down 90% it'll still be overvalued.

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[–] Smokeydope@lemmy.world 8 points 1 year ago (10 children)

Theres a lot of smart financially minded people in these comments. any advice for how someone can get started with the market, and investments in general?

[–] mipadaitu@lemmy.world 7 points 1 year ago

If you want to look at investments, DO NOT buy individual stock. DO NOT short stocks. These are gambles that people play, where you try to guesstimate what the general market thinks about future prospects of a company. Many stocks that over-perform, do not do so because the company is doing well, they over-perform because a large percentage of investors think it might do well in the near future.

Step 1 is just building a stable budget for your household. Pay off debts, earn more than you spend, build an emergency fund. Many companies have savings accounts that you can safely put money into that you can pull out at a moments notice without taking a loss because of a dip in the economy. There's no reason to look at anything else if you have large amounts of student loans, credit card debt, or car payments you're working off.

Step 2 is decide what you want to save for - retirement, a home, etc.

Step 3 is start investing towards that goal. Use investment portfolios that match what your Step 2 goal is.

Step 4 - What country are you from? Because the following advice is for Americans:

If you want to actually earn money, you do it slow and steady. Invest in whole market funds, like VTSAX or similar. They are called "whole market index funds" where you invest a small amount of money into an index fund and it grows along with the entire market. You would put money into a 401k, IRA, or other tax advantaged account, and put that money into a whole market index fund.

IF you have thousands of dollars that you are willing to just throw away and it doesn't matter to you, THEN you can start buying stocks like Reddit, TSLA, or whatever. But that money shouldn't be considered an investment.

[–] TranscendentalEmpire@lemm.ee 5 points 1 year ago (4 children)

Tbh it's not very hard, just get a brokerage account with someone like fidelity or even Robinhood. As far as picking stock, there's no correct way that's applicable to everyone. Oftentimes people who obsess over crunching numbers and doing lots of research, will rarely make more than if they just bought index funds.

Long-term investments are a lot more about how much and how long you can invest, vs what you invest in. In general, I tend to buy stock in companies who I believe to be undervalued, particularly if it's been devalued in reaction to the media and not something like a bad quarterly.

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[–] Copernican@lemmy.world 5 points 1 year ago (1 children)

Don't try to overthink the market. If you are wanting to invest with no plans to spend that money within say 3 to 5 years, just by low expense ratio S&P500 tracking ETFs. My goal isn't to beat the market, just ride with the market benchmarks as best as possible.

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[–] swordgeek@lemmy.ca 5 points 1 year ago (1 children)

I'm apparently one of the "power users" because I got the IPO investment invite.

In Canada.

[–] Rediphile@lemmy.ca 4 points 1 year ago

Haha same despite not being active at all for months now. In any case, the email explains only residents of the USA are eligible.

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