I haven't seen this posted yet. All of reddit's C-levels sold $41.245 million worth of stock in the first week of trading.

https://lemmy.dbzer0.com/post/18120709

I haven't seen this posted yet. All of reddit's C-levels sold $41.245 million worth of stock in the first week of trading. - Divisions by zero

If that’s not the textbook image of rats leaving a sinking ship, I don’t know what is. “Fuck you. Got mine!” The price pump that conveniently happened immediately after release sure was nice for Pig Boy Huffman, wasn’t it. Data on short positions become available tomorrow (April 9th) as referenced in this article [https://qz.com/reddit-stock-is-falling-back-to-earth-thanks-to-short-s-1851371400] so the roller coaster is only just getting started. It’s gonna get wild once the market realizes what a house of cards Reddit is built on.

$40m isn’t that much for a company with a valuation of Reddits.

Not really any conspiracy here

It is when you consider that it was roughly 80% of the stock they held.
So what do you do when you have stock in a private company while still working at it. I imagine if you are heavily compensated with equity you will take going public as an opportunity to offload and diversity.