I bought put options on Monday. So far the stock is doing exactly what I thought it would do. I expect to see it at 25 a share before they expire in a few months.
I’ve got a single $35 p for 4/19. Didn’t wanna go too nuts, I’ve seen plenty of shitcos reach ridiculous valuations after IPO like DASH, and then lose my ass buying puts waiting for the drop everyone knew was coming.
I was pretty confident this was going to follow the same path like what robinhood did when it went public and I threw a bit of heavier money at my confidence on it. Mine are $40 put options that expire mid July. Should be enough time to bottom out on the stock price before it starts to rebound and settle at closer to where it should be. Hoping to triple up on profits. Reddit owes me for the massive amount of ai data from comments I gave them. Lol
Not mostly, but people are buying Truth Social shares not because they think it’s a sound financial decision, but because they support the company. It’s meme stock logic.
Hot take is I don’t think anyone should care about Aaron Swartz. He didn’t do anything for Reddit in the merger and left without doing anything for Reddit so who cares. He then died being a martyr for a cause barely anyone cares about and his death didn’t inspire any change to education publication/copyright. Nobody should care.
Edit: you can downvote me all you want but I would like someone to comment on 1 thing Aaron contributed to Reddit. Why should anyone remember his name other than ‘but he killed himself for the cause bro’.
So by that logic Aaron is relatively obscure right? Must be surprising to see his name on a Lemmy thread with so many upvotes. 2 or 3 references lol sure. I’m sure you haven’t also seen one of the 2 or 3 documentaries on his life either.
For someone who is tired of hearing about Aaron Schwartz, you sure have a lot to say about him, and seem to think about him quite a lot. More than me for sure.
He was also a libertarian techbro who thought ‘child pornography isn’t necessarily abuse’
In the US, it is illegal to possess or distribute child pornography, apparently because doing so will encourage people to sexually abuse children.
This is absurd logic. Child pornography is not necessarily abuse. Even if it was, preventing the distribution or posession of the evidence won’t make the abuse go away. We don’t arrest everyone with videotapes of murders, or make it illegal for TV stations to show people being killed.
In the sense that he actually was a “free speech absolutist” type, yeah. I think we can be pretty certain he didn’t do it himself though, otherwise the FBI would absolutely have charged him for it as they harassed him to death.
His purpose is to implement all of the unpopular shit, take off with his golden parachute, and then a new CEO steps up promising better mod tools and maybe better performance in the mobile app. They’ll make the users think Reddit is headed in a positive new direction with Huffman gone, even though all of it has been preordained and effectively nothing will change, but at least the users will have their bread and circuses.
Problem is Pao cracked down on the toxic hate shit that was making Reddit risky to invest in. It was controversial but ultimately a net positive for the community. Huffman is essentially selling seed corn by betraying developers and power users for short term gain (unfettered bot traffic, juicing native app usage, selling out to AI companies). A net loss for community morale and cohesion.
Ellen Pao was also the face of Victoria’s firing (who was actually fired by Alexis Ohanian). Other events outside of Reddit (her failed gender discrimination lawsuit and her husband’s own legal issues) also provided fuel for the then-nascent alt-right movement to position her as a feminist, POC bogeyman.
It is also hilarious reading the things she was vilified for back then. How quickly the “free speech absolutists” revealed their true colors when they tried to make their own platforms like Voat. I remember reading shortly afterwards how the sites became “taken over” by the alt-right as the MAGA crowd got more vocal, but the truth was they were there from the beginning.
This only works to fuck short sellers, not people who already have shares. If you buy shares right now, you’re not only screwing yourself while the other bag-holders minimize their losses by selling, but keeping the stock overvalued until greedy little pigboy can dump the rest of his stocks.
This is how the prices new tech IPO’s have always gone. Surge on opening, then huge drop and then sometimes if they’re lucky a VERY slow rise back up. With a stock like Reddit everybody expected a pump and dump from the WallStreetBets people that made GameStop famous.
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