Meme Stock Brokers Are Already All Over Reddit’s Sneaky IPO Repository

Reddit has officially submitted the necessary documents for an initial public offering (IPO) — a move the company has been working toward for what feels like forever. And, because this is Reddit we’re talking about, the same stockbrokers have already pledged to send the stock price to the moon.

The exact number that Reddit will be looking for when it goes public has yet to be announced. “We are in a quiet period, and for regulatory reasons, we cannot say anything more,” the company wrote in its announcement. In August, the company pegged its value at $10 billion — not quite a Meta, but certainly nothing to scoff at.

The WallStreetBets subreddit, made infamous by the GameStop meme craze from January, is mostly bullish on Reddit’s stock market debut. Not everyone on the subreddit is happy with the news, but many have already decided to side with the company that hosts their community. “Compromise: Reddit gets even worse, but you could make a ton of money,” a user wrote.

This is the main concern of Redditors at all levels. Becoming a public company could dramatically change the site millions of people flock to for the community.

Reddit on the moon! — The WallStreetBets subreddit is a very mixed bag of memes and vitriol. It is home to millions of people (11.3 million, at last count) willing to risk the clothes on their backs to randomly inflate stock prices.

The existence of the community has been the subject of much controversy in the tight-necked world of day traders. But he was also successful in his mission, sometimes even managing to save dying businesses from the brink of bankruptcy.

Users predict the Reddit action will be an instant hit in WallStreetBets. And why wouldn’t it be?

Not everyone is happy – Reddit’s IPO is not without its risks, however, which the WallStreetBets subreddit is intimately aware of. Leaving the company out of a private economic model could theoretically change the entire structure of the site. Some users seized on this as an opportunity to take the helm themselves (“If we all contributed shares, we could control Reddit. Let’s just say,” one user commented) – although others think it will give too much power to new investors.

“I predict the porn subreddits will shut down soon after,” another user wrote. Others feared being forced to stop using ableist slurs.

Investors outside of WallStreetBets will be interested in Reddit’s revenue streams, which have somehow managed to increase significantly over the past few years. Reddit brought in $100 million in ad revenue this year, a 192% increase from last.

Dolores W. Simon