They’re Reddit Die-Hards. Do They Want to Be Shareholders, Too?


Reddit将于本周晚些时候挂牌上市，并将把IPO很大一部分股票发售给用户。


“我认为投资于你使用的产品是正确的选择，”想要拥有 Reddit股份的Kevin Xu说道。

Kevin Xu对Reddit感念有加。 6park.com
Kevin Xu owes a lot to Reddit. 6park.com
    
他是在新冠疫情期间涉足投资的，通过把自己的日内交易战绩分享到Reddit旗下弥漫着玩世不恭氛围的WallStreetBets社区，他收获了众多粉丝。Xu炒股赚了数以百万计美元，辞去在谷歌(Google)的工作，创建了一款专注于投资的应用，名为AfterHour。 6park.com
He started investing during the pandemic and gained a following sharing his day-trading exploits in Reddit’s irreverent WallStreetBets community. Xu made millions trading stocks, quit his job at Google and created an investing-focused app called AfterHour. 6park.com
    
现在，他有机会成为Reddit的一个小股东。该社交媒体平台将于本周晚些时候首次亮相股市，并将IPO很大一部分股票发售给用户。Xu申购了690股；Reddit设定的IPO发行价区间为每股31美元-34美元。 6park.com
Now, he has the opportunity to own a slice of Reddit. The social-media platform is making its stock-market debut later this week and is offering a chunk of shares in its initial public offering to users. Xu requested 690 shares, which Reddit aims to price at $31 to $34 each. 6park.com
   
“Reddit成就了现在的我，”现年33岁、居于湾区的Xu说。“我认为投资于你使用的产品是正确的选择。” 6park.com
“Reddit made me who I am,” said Xu, 33 years old, who lives in the Bay Area. “I believe in investing in products that you use.” 6park.com
   
普通人通常没有机会参与IPO。通过IPO发售的股票通常是留给大投资者的。如果Reddit股票在首次亮相股市后大涨，以IPO发行价买入的投资者有望大赚一笔。 6park.com
Everyday people don’t typically get the chance to participate in an IPO. Those shares are usually reserved for big investors. If Reddit’s stock pops after its debut, investors who buy at the IPO price could rake in huge gains. 6park.com
    
但投资于任何IPO都会有风险，Reddit面向用户的推介到头来也许会适得其反。如果Reddit股价下跌，股东或蒙受重大损失，这可能会激怒参与IPO的那些颇具影响力的Reddit超级用户。 6park.com
But investing in any IPO can be risky—and Reddit’s pitch to users could end up backfiring. Shareholders could suffer major losses if the stock falls, which may anger Reddit’s powerful super-users who participate in the offering. 6park.com
    
小投资者有可能非常不稳定，因此Reddit在提交的IPO文件中把他们列为一个风险因素。专业的基金经理往往会在更长时间里持有股票，而散户投资者则被认为容易一看到疲软苗头就立即抛售。 6park.com
Small investors are so potentially volatile that Reddit listed them as a risk factor in its IPO filing. Professional money managers tend to hold stocks for longer, while individual investors are thought to be prone to selling at the first sign of weakness. 6park.com
   
Reddit对此肯定是知道的。在2021年，WallStreetBets信徒曾引发GameStop和AMC娱乐(AMC Entertainment)股价的剧烈波动，开创“模因股”交易新时代。 6park.com
Reddit would know. In 2021, WallStreetBets devotees sparked wild swings in shares of GameStop and AMC Entertainment, ushering in a new era of “meme stock” trading. 6park.com
    
“情况确实又开始模因化了，” Xu谈及比特币最近屡创新高时说。“Reddit有望获得一大波相关关注。” 6park.com
“Things are definitely feeling meme-y again,” Xu said, pointing to bitcoin’s recent new highs. “Reddit is poised to capture a lot of that attention.” 6park.com
   
此次IPO是今年热度最高的IPO交易之一，Reddit称其寻求从中筹资不超过7.48亿美元。该公司估值目标为不超过64亿美元，这低于与2021年8月一轮融资对应的100亿美元估值水平。Reddit将发售2,200万股股票，其中不超过8%将留给用户、某些董事会成员，以及一些员工的亲友。 6park.com
Reddit said it is seeking to raise as much as $748 million in one of the buzziest IPOs of the year. The company is aiming for a valuation of up to $6.4 billion, down from $10 billion based on an August 2021 fundraising round. Reddit is offering 22 million shares, with up to 8% set aside for users, certain board members and some employees’ friends and family. 6park.com
    
符合条件的用户最迟可在本周一通过摩根士丹利(Morgan Stanley) E*Trade协助下的一项定向股票计划申购不超过1,000股股票。之后，这些股票将根据可获得情况进行分配。 6park.com
Eligible users have through Monday to apply for as many as 1,000 shares in a directed share program facilitated by Morgan Stanley’s E*Trade. The shares will then be allocated based on availability. 


Daniel Jeffers计划购买最多1000美元的Reddit IPO股票。

处于半退休状态的加利福尼亚州小说作家Daniel Jeffers下个月将迎来他的第12个Reddit “蛋糕日”(Cake Day)，即用户创建Reddit账户的周年纪念日。他最喜欢的子社区(subreddit)包括AskHistorians、AskOldPeople和AmIWrong。今年67岁的Jeffers计划购买最多1000美元的Reddit IPO股票，以示支持，并希望从中获利。他承认自己并不擅长预测热门股票。 6park.com
Daniel Jeffers, a semiretired fiction writer in Ridgecrest, Calif., will reach his 12th Reddit “Cake Day”—the anniversary of the date when someone created an account—next month. Among his favorite subreddits are AskHistorians, AskOldPeople and AmIWrong. The 67-year-old plans to buy up to $1,000 of Reddit’s IPO shares in a show of support—and in hopes of netting a profit. He admits he isn’t the best at predicting hot stocks. 6park.com
   
“多年前，我曾不看好谷歌(Google)的IPO，”他说。“结果证明我真的错得离谱。” 6park.com
“Years ago, I was being negative about Google’s IPO,” he said. “That turned out to be really, really wrong.” 6park.com
   
尽管如此，Jeffers说他不会向任何人推荐购买Reddit的股票。该公司的志愿者版主过去曾通过将自己的子论坛私有化来抗议公司的一些政策和决定，Jeffers担心未来的报复行为可能会令广告客户望而却步。“这是一个非常敏感的社区，”他说。 6park.com
Still, Jeffers said he won’t recommend buying Reddit stock to anyone. The company’s volunteer moderators have protested some of its policies and decisions in the past by taking their subreddits private, and he is concerned that future retaliation could turn off advertisers. “It’s a very touchy community,” he said. 6park.com
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最近几周，WallStreetBets和其他子论坛上的用户纷纷发表帖子和评论，鼓励其他人回避这次IPO，甚至做空Reddit的股票。在卖空过程中，投资者押注一只股票的价格会下跌，所以他们借入股票并按市价卖出。如果股价继续下跌，做空者就可以以更低的价格买回股票，并从中获利。 6park.com
Users on WallStreetBets and other subreddits have made posts and comments in recent weeks encouraging others to avoid the IPO and even short Reddit’s stock. In short selling, investors bet that a stock will decrease in value, so they borrow shares and sell them at market price. If the stock price continues to decline, short sellers can buy the shares back at a lower cost and flip a profit.


Charles Beyer最终决定不申购任何股票。

Charles Beyer预先注册了参与Reddit IPO的渠道，并考虑抢购多达500股股票，但最终决定不申购任何股票。这位48岁的顾问于2010年创建了自己的Reddit账户，他关注世界新闻、政治、技术、汽车和股市等社区。 6park.com
Charles Beyer preregistered for access to Reddit’s IPO and considered snagging as many as 500 shares but ultimately decided not to request any. The 48-year-old consultant created his Reddit account in 2010 and follows subreddits on world news, politics, technology, cars and the stock market. 6park.com
     
Beyer对Reddit用户购买的股票没有锁定期等问题表示担忧。投资者可能想快进快出，这可能会给股价带来下行压力。Reddit的估值比几年前下降的情况也令他感到不安。他说，如果股价大跌，他不想成为接盘侠。 6park.com
Beyer worries about the lack of a lockup period on shares purchased by Reddit users, among other concerns. Investors could be looking to make a quick flip, which could put downward pressure on the stock price. Reddit’s drop in valuation from a few years ago also troubled him. He said he doesn’t want to be a “bag holder” if the stock price plunges. 6park.com
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住在芝加哥附近的Beyer表示：“如果他们认为此次IPO会大受追捧，为什么还要卖给散户呢？” Beyer考虑在Reddit开始公开交易后购买该股，具体取决于股价表现。 6park.com
“If they thought the IPO was going to be gangbusters, why would they want to sell to retail?” said Beyer, who lives near Chicago. He is considering purchasing shares after Reddit begins trading publicly, depending on how the stock performs. 6park.com
     
美联储2022年开始加息以抑制通胀，当时美国IPO市场正陷入枯竭，自那以来该市场表现时冷时热。一些备受瞩目的公司，比如去年进行IPO的德国鞋商Birkenstock，上市后股价起伏不定。但随着美股位于高点附近，2024年可能会成为IPO卷土重来的一年。 6park.com
The IPO market has been spotty since drying up around 2022, when the Federal Reserve started raising interest rates to tame inflation. High-profile companies such as German shoemaker Birkenstock that listed shares last year have experienced choppy stock performance since. But with the broader stock market trading near highs, 2024 could be a comeback year for IPOs.


Olivia Dreizen Howell申购了两股Reddit的IPO股票

Reddit还向Robinhood、富达(Fidelity)和SoFi等经纪公司的个人投资者提供大量该公司的IPO股票。 6park.com
Reddit is also offering a slug of IPO shares to individual investors at brokerages such as Robinhood, Fidelity and SoFi. 6park.com
    
Robinhood的客户Olivia Dreizen Howell申购了两股Reddit的IPO股票。Howell虽然不是Reddit的超级用户，但她发现该平台在她两次怀孕期间很有帮助，尤其是在获取有关妊娠糖尿病的信息方面。现在，Howell会浏览有关育儿的子论坛，并像使用搜索引擎一样使用该平台。 6park.com
Robinhood customer Olivia Dreizen Howell requested two IPO shares of Reddit. Though not a Reddit super-user, Howell found the platform to be helpful during her two pregnancies, particularly for information about gestational diabetes. Now, she browses subreddits around parenting and uses the platform like a search engine. 6park.com
   
Howell现年39岁，是纽约长岛的一名企业家。她表示，上述股票能让人们成为所钟爱的这个平台的股东。 6park.com
“We can own something that we are big fans of,” said Howell, a 39-year-old entrepreneur on New York’s Long Island.


Isacc Davis可能会买一股。

对于一些Reddit用户来说，新奇感足以让他们注册参与此次IPO。艾奥瓦州锡达拉皮兹市29岁的软件工程师Isacc Davis对拥有Reddit股份是否会带来财富持怀疑态度，但还是进行了注册，打算参与此次IPO。 6park.com
For some Reddit users, the novelty is enough to sign up for the IPO. Isacc Davis, a 29-year-old software engineer in Cedar Rapids, Iowa, is skeptical that owning a piece of Reddit will lead to riches but registered for IPO access anyway. 6park.com
   
Davis表示：“我可能会买一股，只是为了体验一下。” Davis称，非机构投资者较少有机会参与IPO。 6park.com
“I’ll probably buy one share, just for the experience of it,” Davis said. “You don’t get the opportunity very often as a noninstitutional investor to get in on an IPO.”