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Reddit's stock $RDDT experienced significant volatility, with shares surging after an options launch and reaching a high of $75. However, the stock fell sharply following a short idea report by Hedgeye Risk Management, leading to a 25% drop in two days. Insiders, including CEO Steve Huffman, sold millions worth of shares post-IPO, with the CEO selling 500,000 shares. The stock closed the week at $49.30, below its first trading day close. Reddit executives sold early, missing out on $19M in additional gains from the IPO.
Reddit's Sky-High IPO: Too Much Enthusiasm and Overvaluation $RDDT #stocks #investing #valueinvesting #Tech #Technology #Value https://t.co/Mn7WEcC8Yg
$RDDT | 3 Reddit Executives Sold Too Early And Missed Out On $19M In Additional Gains From IPO Several Reddit executives sold shares of the company, but it was part of the IPO process. The executives missed out on further gains by selling early based on the current Reddit… https://t.co/n8F9W4V8Ox
r/hotmoney: Reddit $RDDT ends quarter below its first-day close, at $49.32 (still 45% above offer price). A very turbulent first full week, soaring 42% on Monday/Tuesday, then giving up almost all the gains by Friday.