If that’s not the textbook image of rats leaving a sinking ship, I don’t know what is. “Fuck you. Got mine!”
The price pump that conveniently happened immediately after release sure was nice for Pig Boy Huffman, wasn’t it.
Data on short positions become available tomorrow (April 9th) as referenced in this article so the roller coaster is only just getting started. It’s gonna get wild once the market realizes what a house of cards Reddit is built on.
So what do you do when you have stock in a private company while still working at it. I imagine if you are heavily compensated with equity you will take going public as an opportunity to offload and diversity.