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Fidelity has cut Reddit valuation to $5.5B from $10B (techcrunch.com)

submitted 2 years ago* (last edited 2 years ago) by [email protected] to c/[email protected]

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[–] [email protected] 50 points 2 years ago (17 children)

Still overvalued.

[–] [email protected] 27 points 2 years ago (16 children)

Right? How the hell is a company that has never managed to turn a profit worth more than $0?

[–] [email protected] 40 points 2 years ago (1 children)

because none of these numbers are tethered to reality

[–] [email protected] 6 points 2 years ago* (last edited 2 years ago)

Mark Hanna: Number one rule of Wall Street. Nobody - and I don't care if you're Warren Buffet or if you're Jimmy Buffet - nobody knows if a stock is going to go up, down, sideways or in circles. You know what a fugazi is?

Jordan Belfort: Fugayzi, it's a fake.

Mark Hanna: Fugayzi, fugazi. It's a whazy. It's a woozie. It's fairy dust. It doesn't exist. It's never landed. It is no matter. It's not on the elemental chart. It's not fucking real.

https://youtu.be/wM6exo00T5I?t=108

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