Nah it will drop but I bet it’s gonna be a few days before it reaches the low tens. Then the real grind starts with months/years to try to regain value back to the overinflated IPO price.
We’ve seen it with plenty of stocks that IPO’d. This is not unknown territory. There is value in Reddit and there is profit to be had, but it is very under water and overvalued right now.
Investors will dump, employees will dump, price will tank to maybe 20-25$ the first day (after raising for a couple hours I predict, maybe even to 40+$), then a week after the IPO it will be 15-$.
But who the fuck knows. Markets are irrational and it could go down to 5$ the first day as mods and WSB start shorting it and making a mess on social medias.