Reddit

The share price of social media company Reddit was up nearly 50% on the New York Stock Exchange Thursday in a stellar market debut that has given hope to the companies gearing up to go public.Shares of the San Francisco-based company debuted at $47 on the New York Stock Exchange on Thursday, up from the IPO pricing of $34, the top of the company's indicated price range. The stock closed at $50.44.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology Leadership and…

Social media platform Reddit's market debut on Thursday ended a more than two year-long wait but shifts the focus to how it will compare with the other publicly listed peers.Despite its cult-like status, the company has failed to replicate the success of Meta Platforms' Facebook and Elon Musk's X. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk…

A big concern ahead of the public listing was that Reddit, the platform that gave birth to the memestocks of 2021, could also suffer the wild price swings caused by large numbers of investors coordinating their strategy over social media, including Reddit itself, on forums such as r/wallstreetbets.Reddit’s IPO is a test of investor appetite for tech IPOs, which have been a rarity in recent years. Low interest rates had made raising and borrowing cash on private markets easy, and economic effects from the war in Ukraine…

Reddit's shares opened 38% above the initial public offering price in their debut on the New York Stock Exchange on Thursday, valuing the social media platform at $8.87 billion.The San Francisco, California-based company priced its IPO at the top end of the $31 to $34 range. The IPO valued Reddit at $6.4 billion, while the company and its selling shareholders raised $748 million. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science &…

Update: Thursday, 2 p.m.:Shares of Reddit jumped in their trading debut on the New York Stock Exchange on Thursday, opening at $47 and rising to as high as $57.80 in midday trading. The stock was priced at $34 a share for the company’s much-anticipated IPO, which was already at the top of Reddit’s expected range.Original story:After months of anticipation, shares of Reddit, Inc. are expected to begin trading today. The company’s initial public offering will be the most closely watched IPO of 2024 yet. It’s the most…

Reddit is the solution to many of life’s minor problems. Need fan theories about the finale of True Detective: Night Country? Go on Reddit. Recently moved to a new city and want to join a running club? Reddit awaits. The so-called front page of the internet is a massive multiverse of message boards, boasting over 100,000 distinct communities. As some of its 73.1 million active daily users like to say, there’s a subreddit for almost anything. (Literally, in fact.) So, perhaps the solution to the problem of Reddit needing…

Reddit and its eclectic bazaar of online communities is ready to plumb high-stakes territory - the stock market.The company said Wednesday that it had priced its IPO at $34 a share. Shares will begin trading today on the New York Stock Exchange under the ticker symbol "RDDT" in a market debut likely to spur a flurry of commentary on Reddit's own platform, as well as competing social media outlets.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology Leadership and…

One of the many ways Google has been desperately trying to maintain the usefulness of its increasingly shoddy core search product is by stuffing Reddit threads into as many search result pages as possible — a reaction, one supposes, to the way that users have responded to Google Search’s decline by affixing the word “Reddit” to their search queries. Do that, of course, and you zero in on insights from real people, as opposed to whatever garbage the Google Search algorithm decides to throw at you. People do this…

Justice Paula Feroleto of the Erie County Supreme Court ruled on Monday that the more than 40 plaintiffs could try to prove that Meta Platforms’ Facebook and Instagram, Reddit, Google’s YouTube and other platforms were designed to addict and radicalize users like the shooter, Payton Gendron.The plaintiffs included relatives or representatives of people who died in Gendron’s racially motivated mass shooting at Tops Friendly Markets on May 14, 2022, as well as store employees and customers who witnessed it. Gendron was 18…

Reddit, the launchpad for many meme stocks, could now become one: The social media giant makes its debut on Wall Street this week in one of the most highly anticipated initial public offerings of the year. The nearly 20-year-old company is seeking to raise up to $748 million in its IPO on March 21, putting its valuation at about $6.4 billion. It’s the first time that a major social media company has gone public since Snap (i.e., Snapchat) in 2017. It will sell approximately 22 million shares priced at $31 to $34 each…