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

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

March 21, 2024 11:08 AM EDT

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

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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

Reddit prices stock at top of target range in biggest social media IPO since Pinterest

March 21, 2024 5:42 AM EDT

Reddit priced its initial public offering (IPO) at $34 per share on Wednesday, hitting the high end of its target range.

The offering raised $519 million and values the social media platform at about $6.5 billion. Reddit initially aimed for a share price between $31 and $34.

When Reddit starts trading on the public market this Thursday under the ticker "RDDT," it will be the first... More

Fed decision, SNB surprise, Reddit IPO - what's moving markets

March 21, 2024 5:35 AM EDT

Investing.com -- Wall Street futures head higher after the Federal Reserve reaffirmed plans for three interest rate cuts this year. The Swiss National Bank became the first major central bank to cut interest rates, and more central banks are due. Reddit is set to start trading, having been priced at the top of its IPO range.

1. Fed reaffirms plans for three cuts this year

The U.S. Federal Reserve held its benchmark... More

Reddit (RDDT) Prices 22M Share IPO at $34/sh

March 20, 2024 5:46 PM EDT

Reddit, Inc. (NYSE: RDDT) today announced the pricing of its initial public offering of an aggregate 22,000,000 shares of its Class A common stock, 15,276,527 of which are being sold by Reddit and 6,723,473 of which are being sold by certain selling stockholders, at a public offering price of $34 per share. Reddit will not receive any proceeds from any sale of shares by the selling stockholders. In addition, Reddit has granted the underwriters a 30-day option to purchase up to an additional 3,300,000 shares of its Class A common stock at the initial public... More