This particular decline was caused by a bunch of insiders, including one greedy pigboy, selling some of their shares.
That’s not necessarily a sign of any problems at the company, though. These insiders are probably carrying this equity from before it ever went public and sell shares periodically as part of their (insane) compensation. For instance, the aforementioned greedy little pigboy sold $2m according to that article, but still holds more than $90m at current valuations.
That’s not necessarily a sign of any problems at the company, though.
It’s a very strong sign that there aren’t a lot of people waiting to buy.
But then, as many people already commented, the market is not very hot right now.
There have been multiple sellers since the end of Feb that have had an impact. Pays to be an insider lol.
Specifically, insider Benjamin Seong Lee sold 92,299 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $157.35, for a total value of $14,523,247.65. Following the transaction, the insider now directly owns 115,001 shares of the company’s stock, valued at approximately $18,095,407.35. This trade represents a 44.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Michelle Marie Reynolds sold 11,965 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $157.41, for a total transaction of $1,883,410.65. Following the transaction, the chief accounting officer now owns 48,418 shares in the company, valued at $7,621,477.38. The trade was a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CEO Steve Ladd Huffman sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $160.30, for a total transaction of $2,244,200.00. Following the transaction, the chief executive officer now directly owns 597,515 shares in the company, valued at $95,781,654.50. The trade was a 2.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
General rule for posting stock prices: sometimes things are obvious when you zoom out a bit.
In this particular case, Reddit stock price is still up several percentage points from the Trump rally that affected just about every tech stock after 2024-10-30 about. Same applies to other stocks like Tesla.
So at this point it’s nothing more than a return to normal. No need to attribute anything more to it. But sure, if this descends keeps going for some time more, it’ll be different.
I’m not experienced with stock markets, but is the concept of ‘normal’ really relevant, especially after a whole quarter? What factors would give it a tendency to return to the prior state?
Stock markets are very close to brownian motion. There is no return to normal.
There is a market portfolio (people use the s&p500 as a proxy for this) so returns of sectors or individual stocks should be made relative to this.
Interesting! I didnt know that so many tech stocks were impacted on that date. Is there anything special about the start date of reddit’s stock decline? Or was it simple a “straw that broke the camel’s back” situation, where some insignificant thing started the downward trend?
Stocks overall took a downturn when investors finally realized Trump wasn’t bluffing bout his tariff plans
DJT is.
Fuck the Y graph doesn’t start at zero though.
Nah man, skipping keeps my data legible so you can clearly see trends
You can’t see the trend there. Especially with the numbers so blurry
That’s pretty standard practice with stocks because traders are more interested in seeing the detail of what the price has been doing than they are in seeing how much it has changed in total. That and the stock should never be anywhere near zero unless the company is on the verge of total collapse (and usually by that point it becomes de-listed)
Sure, but are we stock brokers here? I just think it falsely shows a too big drop. That plus the blurry numbers
¯\_(ツ)_/¯
Still overrated. Bad policies are being enforced and neither the algorithm nor the community are what they used to be.
When you start banning long-term users over bullshit. This happens. Hope it crashes and burns all the way to the ground.
Did Luigi save us from reddit? What can’t this man do?
This is Macro scale issue with whole US stock market not an specific Reddit Issue I Believe
I’ve checked some companies and that seems so, though reddit seems to be the only one that lost ~40% value in one month
Tesla and DJT have lost similar amounts in the last month.
Reddit sucks! 12 year user and getting banned for upvoting ‘promoting violence’! I hope it goes to 0
Welcome! Glad to see all the new users here.
Thanks! I’m sure more users will come over given what they’re doing
Deleted my 14 year old account today; wasn’t banned (yet) but fuck if I’m sticking around for this 1984 bullshit.
I haven’t been banned either. Currently hanging around on both platforms but I expect I’ll say goodbye to Reddit sooner or later. Lemmy is definitely less addictive (which I love). Not quite as much variety here yet either. We’ll see what happens. Think my account is 9 years old at the moment, but this level of one-sides censorship and thought policing is unacceptable.
I’m a 12 year too and just switched over when they blocked Boost last week (so, right before this Luigi stuff). I have to say, after a little learning curve, I like this experience a lot better (still on Boost, BTW). Keep on tanking, Reddit; the more users that jump ship, the better. I’m planning on backing up my post/comment history before I delete my account, but otherwise I won’t be looking back.
Pretty simple - same folks who bought Xitter and Trump are pulling their $ out until Reddit starts censoring shit they don’t like. It’s not a coincidence that “Luigi” became a banned word last week.
Putting the red in reddit.
Unfortunately the it already left when I signed up here a couple of years back.
in my experience, reddit advertising has been idiotic for several years.
I go to a basketball subreddit. there are no relevant ads about basketball. not local team tickets, not streaming services, basketball equipment, basketball merch, or even a video game.
I go to a subreddit for a tv show. it’s similar. There are no ads or links to buy dvds or tickets to a convention or anything related to the show.
They could totally target advertising based on subreddit and they don’t.
I can’t believe for as long as I’ve been on Reddit I never realized that point you just made. Good shit dude.
Is this because they think they’re more likely to get a more valuable click by showing you targeted ads from the highest bidder?
Targeted ads always seem to be so poorly targeted.
If you back out the view to 6+ mo. it matches the overall decline of the market in general. You could grab many stocks and ask the same question and it would be correlation, but not any cause by the particular company.
Uhh guys I hate reddit too but the entire economy is tanking.
This isnt a reddit thing and has nothing to do with reddit itself
Compare to s&p 500, nyse, NASDAQ, etc.
It’s down all around but not 40% down
Not yet anyway
I am trying my best. Not buying Heinz or Mars bars. Buying Bramwells and Titan bars instead. Where practical avoid American.
