this post was submitted on 30 Jun 2023
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172
Reddit's Valuation Has Fallen Even Further, Fidelity Says (gizmodo.com)
submitted 2 years ago by L4s@lemmy.world to c/technology@lemmy.world
42 comments fedilink hide all child comments
 

Fidelity estimates Reddit's holdings are at $15.4 million, which is down over 7% from the fund’s estimates of $16.6 million from this past April.

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[–] CaptObvious@lemmy.world 20 points 2 years ago (3 children)

I'm sorry for people losing money because they believed Spaz's "This will blow over." Not sorry to see Reddit tanking.

[–] empireOfLove@lemmy.one 11 points 2 years ago (1 children)

The only people losing money here are corporate private investors. I hope they lose every fucking cent.

[–] CaptObvious@lemmy.world 5 points 2 years ago (2 children)

I couldn't care less about corporate investors. They deserve what they're getting. But far too many ordinary people have been forced to put their retirement funds in the stock market (via 401(k) accounts instead of retirement plans), and I hope they're safe.

[–] LetMeEatCake@lemmy.world 3 points 2 years ago

Reddit hasn't had their IPO yet. The only way that regular people are invested in it are by being invested in equity firms that own part of Reddit today. As best I can tell, the only one such company that (a) is invested in reddit, and (b) is public is Tencent.

So, for now, people are safe. It's investment managers at private businesses that might get in trouble.

[–] pensa@kbin.social 1 points 2 years ago

If one believes a CEO over financial data and technical analysis they are not an investor, they're a gambler. As such it is appropriate and expected that they lose money over time. Reddit is not profitable and does not have a clear path to profitability. Anyone who would invest in such a company is a fool.

[–] moop@kbin.social 1 points 2 years ago

I don’t know, if you believe someone who thinks Elon Musk did a great job with Twitter maybe you deserve to lose money