Reddit shares end trading up 48% in market debut:
channelnewsasia.com/business/reddit-shares-ipo-trading-48-market-debut-investors-4213721
Quick Glance: Reddit Shares Surge 48% in Market Debut
- Reddit shares ended their first day of trading in New York up 48 per cent, signaling that investor appetite for initial public offerings of promising yet loss-making companies could be returning.
- While Reddit still relies on advertising for the vast majority of its revenue, it positioned its content in its IPO marketing as training grounds for AI programs and disclosed an investigation by the US Federal Trade Commission into its AI data licensing deals.
- Shares of Reddit opened on the New York Stock Exchange at $47 and surged to $50.44 after pricing at $34 in the IPO.
- Reddit's entry into public markets was long overdue, and although the allocation of shares to users and retailers poses risks, the extremely bullish sentiment from retail traders on platforms like Stocktwits indicates that the cult brand Reddit continues to hold a significant cultural presence in the social media world.
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| Last Updated | Mar 25 |
| Total Articles | 166 |
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