Reddit (RDDT) Shares Indicated To Open At $42/$46

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Go back to Reddit (RDDT) Shares Indicated To Open At $42/$46

Welcome to wallstreetbets: Reddit (RDDT) stock adds 48% in a blockbuster IPO debut

March 21, 2024 1:05 PM EDT

(Updated - March 21, 2024 4:34 PM EDT)

Reddit has made its long-awaited market debut Thursday, closing the day 48.4% higher.

Reddit priced its IPO at the top end of the $31 to $34 range, valuing the company at $6.4 billion.

The highly successful market debut is the latest sign of improving... More

Midday movers: Micron and Guess rise; Apple, Darden, Five Below fall

March 21, 2024 8:08 AM EDT

(Updated - March 21, 2024 11:03 AM EDT)

Investing.com -- Main U.S. indexes rose Thursday, continuing the positive tone generated by the Federal Reserve sticking with its plan to cut interest rates three times this year.

Here are some of the biggest U.S. stock movers today:

Micron (NASDAQ: MU) stock soared 16%, on track for a record high, after the chipmaker posted a surprise profit and... More

Reddit shares end trading up 48% in market debut

March 21, 2024 6:34 AM EDT

By Niket Nishant and Echo Wang

(Reuters) - Social media platform Reddit's shares ended their first day of trading in New York up 48%, signaling that investor appetite for initial public offerings of promising yet loss-making companies could be returning.

Reddit, which has not turned an annual profit since launching in 2005, lured investors by positioning its content as training grounds for artificial intelligence (AI) programs. Reuters reported last month that Reddit struck a data licensing deal with Google worth about $60 million a year.

While Reddit still relies on advertising for the vast majority of its... More