Reddit Warns That r/WallStreetBets Could Wreak Havoc on Its Stock Price
Beware the apes, Reddit told the world in its IPO documents, though not in such explicit terms. Put simply, the company warned potential investors that one of its subreddits, the infamous r/WallStreetBets, could make its stock price and volume extremely volatile—and there’s little Reddit can do about it.Robinhood App Lays Off 9% of StaffReddit listed r/WallStreetBets as one of the possible risks to investing in the company in its S-1 form on Thursday, referencing the subreddit’s role in the meme stock craze of 2021, where…