Reddit has announced its intention to go public, disclosing in its IPO filing an investment of excess cash into cryptocurrencies such as Bitcoin ($BTC), Ethereum ($ETH), and Polygon ($MATIC). The filing also highlights concerns over the potential for Reddit to become a meme stock, a sentiment echoed by the community and analysts. The mention of r/wallstreetbets five times in the S-1 document indicates the platform's significant influence. However, Reddit's corporate actions, including its public offering, have been met with skepticism by its user base, which traditionally opposes corporate interests. Industry experts, including tastylive CEO Tom Sosnoff and Jay Woods from Freedom Capital Markets, have weighed in on Reddit's profitability and the potential impact of its IPO on the market. Meanwhile, the community and commentators speculate whether Reddit itself could be the next big meme stock, raising concerns about increased stock volatility and the influence of memes on personal finance decisions. Reddit is worried that a meme stock resurgence could sour investors on its IPO.