I still use Reddit for some stuff (pick any tv show or weird niche interest or piece of technology you might want support on, or even bigger things like pro wrestling that don't currently have a place in SN, for example), but it's gone way downhill as a service. They offered most users (myself included) the chance to get in on the IPO, and I suppose I could (and maybe should) have done that and flipped the stock, but I didn't want to be a part of the hype cycle.
I'm pretty sure the price will settle down heavily.
Basically, Reddit users over a certain threshhold of karma (from posts/comments) were allowed to purchase up to a certain amount of the IPO stock, just like the big businesses were able to (though with a smaller limit). It's actually not a terrible idea (since Reddit's value was built on the users), but also helped create extra artificial demand.
Facts.
Everytime im searching stuff and land in a reddit thread and the comments are high quality, detailed, mature, actually funny and not some shitty pun and THANKS FOR redditGOLD KIND STRANGER, i go and notice the date posted...
Reddit was far better years ago and felt like a fun site for free speech of all kinds. Now it's a cesspool unless you firmly subscribe to leftist ideology.