this post was submitted on 01 Jul 2023
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Fidelity valued its holdings in Reddit at:
May 2023 > $15.4 million
Apr 2023 > $16.6 million
Aug 2021 > $28.2 Million
So Fidelity lost $1.2M in the value of their holdings based on this bullshit triggering the issues with 3P apps and the black out and beefs with moderators?
Spez gotta get fired sometime soon. I figured that the initial cut in April may have triggered the push to cut API.
My guess is that it's more than that it just hasn't been priced in yet. You don't want this sort of stuff in your IPO risk disclosure.