@fivezero Holy shit that is one top heavy company. No wonder they haven't made a profit. I'm done with f u/spez but it will be entertaining to watch him continue to devalue the company. Fidelity downgraded the value and who knows what the Chinese investor Tencen thinks. It will be delicious to watch spez screw up his IPO. Desperation has gripped spez and its getting worse.
@BraBraBra I’ve heard people say that. I’m aware that there have been previous reductions in value. My experience is that investors have the best access to a company’s information, often in real time in a situation like this, so I think the investors are baking in any user loss and loss of revenue even if they are not publicly admitting it.
@swnt Spez will just keep doing what he's doing because he doesn't know how to be different. Who knows what new counterproductive idea he'll force on the people there. Fidelity just reduced the valuation of the company - again. At some point between Fidelity and Tencen the investors may throw his ass out, which would be fitting. Eventually happens to people with Hubris like his.