this post was submitted on 20 Mar 2024
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113
Reddit guides IPO may price at top of range or above, source says (finance.yahoo.com)
submitted 7 months ago by 1984@lemmy.today to c/technology@lemmy.world
16 comments fedilink hide all child comments
 

Get your shorts ready, this will be very interesting to follow. Seems like the stock will appear tomorrow already?

I fully expect a nosedive in stock price but who knows. Maybe a pump and dump.

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[–] tsonfeir@lemm.ee 12 points 7 months ago (1 children)

Which would be good considering they can’t make a profit. Although, I wonder how that makes them worth anything. The intricacies of legalized gambling and money laundering escapes me.

[–] ColeSloth@discuss.tchncs.de 2 points 7 months ago (2 children)

They're making money. It's just not a really high amount.

[–] mark3748@sh.itjust.works 5 points 7 months ago

It’s quite literally in the disclosures and the article you are commenting on. They lost $151MM in 2022 and $90MM in 2023.

[–] rambaroo@lemmynsfw.com 4 points 7 months ago (1 children)

Source? All the ones I can find say they're still losing money. 800M in revenue but 940M in expenses for 2023. https://www.marketwatch.com/amp/story/reddits-ipo-raises-questions-about-profitability-heres-how-it-makes-money-01f73f04

[–] Cogency@lemmy.world 4 points 7 months ago* (last edited 7 months ago) (1 children)
[–] admin@lemmy.my-box.dev 2 points 7 months ago

According to that link, his salary was "only" half a million. Or does he get 193 million in stock each year?