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 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.
This is usually true, but since this isn’t being reported as illegal trading, I’m not sure what the circumstances actually are.
But it is for sure not a good look to have c-suite shares being dumped. It gives the appearance of a lack of confidence in the share price and long-term profitability