vegeta@lemmy.world to News@lemmy.world · 3 months agoTrump's coming stock bustwww.businessinsider.comexternal-linkmessage-square25fedilinkarrow-up1151
arrow-up1151external-linkTrump's coming stock bustwww.businessinsider.comvegeta@lemmy.world to News@lemmy.world · 3 months agomessage-square25fedilink
minus-squareFlying Squid@lemmy.worldlinkfedilinkarrow-up53·3 months ago There are plenty of reasons to believe it won’t stay up there. Reason #1: It has never made money and it never will make money.
minus-squareFlying Squid@lemmy.worldlinkfedilinkarrow-up18·3 months agoYep. spez and the CFO sold hundreds of thousands of shares and r/wallstreetbets were planning on shorting it pretty much the second the IPO was announced months ago.
minus-squareOutsizedWalrus@lemmy.worldlinkfedilinkarrow-up8·3 months agoI don’t really find that to be damning. They’ve been trying to turn a financial windfall for a while. That’s just them finally cashing out.
minus-squareClanOfTheOcho@lemmy.worldlinkfedilinkarrow-up6·3 months agoIsn’t there normally a restriction from executives selling stock for a period of time after an IPO?
minus-squaregregorum@lemm.eelinkfedilinkEnglisharrow-up2·3 months agoThe top brass sold off a portion of the stock, not the majority of it, and certainly not all of it.
Reason #1: It has never made money and it never will make money.
Reddit has already come down.
Yep. spez and the CFO sold hundreds of thousands of shares and r/wallstreetbets were planning on shorting it pretty much the second the IPO was announced months ago.
I don’t really find that to be damning. They’ve been trying to turn a financial windfall for a while. That’s just them finally cashing out.
Isn’t there normally a restriction from executives selling stock for a period of time after an IPO?
The top brass sold off a portion of the stock, not the majority of it, and certainly not all of it.