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Reddit CEO says the mods leading a punishing blackout are too powerful and he will change the site's rules to weaken them (www.businessinsider.com)

submitted 1 year ago by AllonzeeLV@vlemmy.net to c/news@beehaw.org

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[–] chinpokomon@beehaw.org 2 points 1 year ago

We'd have to coordinate with WSB, and folks would lose money in this strategy, but those smooth brains with the diamond hands are good for it. As soon as the IPO happens, immediately buy all the shares available. Then do nothing. Volume needs to grind to a halt. Then at a predetermined time, a day later, a week, everyone dumps all their shares. Another huge spike in volume, but this time in a sell off. It will pop circuit breakers, and even those not part of the plan will join in. The price will plummet and Steve will be left holding the bag, trying to show that he has diamond hands.