Last words
I’m not some whining kid — I’m a part-owner of this company. I’m a shareholder. And yes, even if the C-suite couldn’t care less about what I write here with my 1,600 shares, that doesn’t change the fact.
I’ve been a long-time fan of Reddit, and I’m still fundamentally bullish on the company. The numbers speak for themselves. This isn’t about trashing the business — it’s about how shareholders are being treated.
What’s frustrating is that I’ve rarely seen a management team care so little about its stock price. We’re in a market environment where, even during uncertain or crisis-like periods, many companies actively support their share price — through buybacks, communication, or at least signaling confidence. Meanwhile, Reddit continues to flood the market with shares, making no visible effort to stabilize things, even when they clearly have the tools to do so.
The CFO’s statement that the market is “too volatile” to execute buybacks, despite having a $1 billion authorization, is, in my opinion, incredibly weak. If anything, volatility is exactly when companies step in to support their stock and show conviction. What kind of signal does it send when a company won’t even buy its own shares under those conditions?
Look at companies like ServiceNow ($NOW), where management actively works to instill confidence in shareholders. Or others like Meta and Apple, which consistently execute buybacks even in uncertain environments to demonstrate belief in their long-term value. That’s leadership.
And then there’s us… doing the opposite.
I’m not complaining about losses — that’s part of the game. I’m simply expressing my frustration with the current management approach. Recently, I even read a comment where the CEO joked about people “crying” on forums. If that reflects the attitude toward investors, that’s honestly disappointing.
For me, today is a decisive day. If we drop below $140, I’ll exercise my PUT and exit my position. I’ve already closed my covered calls. Under these conditions, I don’t feel comfortable remaining a shareholder.
If today turns out to be that day, I just want to say thanks to many of you here. Despite the rough price action, it’s been a fun ride — lots of laughs, good discussions, and I’ve come across some genuinely great people in this community.
Michael out