Reddit stock closes up nearly 48% on its first day of trading

/ Sign up for Verge Deals to get deals on products we’ve tested sent to your inbox weekly. In 2021, Reddit’s first IPO attempt fizzled, but now it’s ready to try again by riding the wave of generative AI hype.

Reddit stock closes up nearly 48% on its first day of trading

Reddit Inc., which reported its second quarterly results as a public company Tuesday, is well-positioned to reap the benefits of the “treasure trove” of user-generated content on the platform, says Ba… By the tech industry’s standards, Reddit remains extraordinarily small for a company that has been around as long as it has. At $34 per share, Reddit will have a market value of $6.4 billion — far below the more than $1.2 trillion of Meta Platforms, whose biggest social media service Facebook was started just 18 months earlier than Reddit. Almost any post related to the stock market and investments is welcome, including pre IPO news, futures & forex related to stocks, and geopolitical or corporate events indicating risks; outside this is offtopic and can be removed.

Reddit’s stock trades as much as 70% above its IPO price, before paring gains

Still, she also anticipates Reddit’s IPO to be volatile—and, if there is an initial “pop,” it’s possible that some might sell their shares to reap their gains soon after, potentially causing prices Swing trades today to drift. The IPO will test the quirky company’s ability to overcome a nearly 20-year history colored by uninterrupted losses, management turmoil and occasional user backlashes to build a sustainable business. Reddit and its eclectic bazaar of online communities is ready to plumb high-stakes territory—the stock market. Moat of the stocks i own fell 20%, 30% in a matter of 1-2 months and i don’t understand what’s happening.

Reddit’s biggest risk factor is Google

1. Spam, ads, solicitations (including referral links), and self-promotion posts or comments will be removed and you might get banned.
2. Still, she also anticipates Reddit’s IPO to be volatile—and, if there is an initial “pop,” it’s possible that some might sell their shares to reap their gains soon after, potentially causing prices to drift.
3. Market power like that means the company decides who gets chips from its limited supply and how much they pay, with some experts theorizing that Nvidia has been making a 1000% profit through the retail price of some of its chips.
4. The company began publicly trading in March as its partnerships reach major companies like Google and Open A.I.
5. Competition is key to a thriving U.S. economy and faster economic growth.
6. Reddit outlined a strategy in its filing calling for even more ad sales on a service that it believes companies will be a powerful marketing magnet because so many people search for product recommendations there.

By using readily available natural gas as the feedstock, C-Zero hopes to produce emission-free hydrogen for less than other green hydrogen startups. Every weekday and Sunday, you can get the best of TechCrunch’s coverage. According to 17 analysts, the average rating for RDDT stock is “Buy.” The 12-month stock price forecast is $66.65, which is an increase of 17.24% from the latest price. Click here to find how many days old your account needs to be and how much karma you need before you can comment or post to r/Stocks.

Shares of Reddit Inc. ended Monday’s session up 5.3% after the social-media platform announced a partnership program with five major U.S. sports organizations. Trolling, insults, or harassment, especially in posts requesting advice, will be removed. Feel free to suggest Robinhood as a broker in comments, but do not share referral links in any way. Huffman, 40, is now CEO, but how he got the job serves as a reminder of how messy things can get at Reddit. The change in command occurred in 2015 after Ellen Pao resigned as CEO amid a nasty user backlash to the banning of several communities and the firing of Reddit’s talent director. Even though Ohanian said he was primarily responsible for the firing and the bans, Pao was hit with most of the vitriol.

By Wes Davis, a weekend editor who covers the latest in tech and entertainment. He has written news, reviews, and more as a tech journalist since 2020. It was recently up 47.8% at $50.25, with about 21.4 million shares traded. Reddit’s stock traded higher right after the open, to reach an intraday high of $57.80 before paring some gains.

After a lull in the IPO market over recent years, Reddit made a splash with its offering this week. Already one of the most highly paid CEOs in the U.S., Steve Huffman will get a bonus of more than $20 million if Reddit’s stock can maintain a $5 billion… In a brief update ahead of the weekend, the London transport network said it has no evidence yet that customer data was compromised.

Reddit’s business has also become more mature, according to Vollero, who pointed to the company’s user and data-licensing growth. But with the first two tech IPOs of the year both performing well, there’s less weight in the argument that waiting is the best course of action for healthy private-market tech companies. It’s worth noting that the FTC has opened an inquiry into Reddit’s plan to license its user data to train AI models. If investor interest is sparked due to the company’s AI strategy, it will be interesting to see how the stock continues to perform as that probe continues to unfold.

Altman owns 12.2 million shares of Reddit stock, according to the company’s IPO disclosures. This subreddit’s purpose is to analyze, discuss, and participate in stock market related areas. If you are new to the markets, click here or see our resources in the sidebar. Additionally, see our quick guide on how to ask good questions and share quality content.

Shares of social forum giant Reddit closed mvc developer job openingssearch mvc developer job opportunities in india its first day of trading at $50.31, up nearly 48% from its IPO price of $34 per share. The company had indicated a target range of $31 to $34 per share in the run-up to its public-market debut, eventually settling on the top-end of that interval. Prices are still bouncing, though have cooled and appear to be settling in at below $50. Reddit (RDDT) beat analysts’ expectations on the top and bottom lines in its second quarterly earnings report since its March initial public offering (IPO). Almost any post related to stocks and investment is welcome on r/stocks, including pre IPO news, futures & forex related to stocks, and geopolitical or corporate events indicating risks; outside this is offtopic and can be removed.

This has effectively made Nvidia the gatekeeper for the world’s AI future. I’ve usd cnh currency converter been looking into this recently and reading 30+ articles a day and I’ve heard a lot of talk about stock market crashes in January and April 2021 and much worse crashes in 2022. I’m very bullish overall but the lack of optimism in general is slightly worrying.

Without the intervention of U.S. regulators, the prospects of restoring competition in the semiconductor market are bleak. They will only grow bleaker as Nvidia approaches 100% ownership of the market, and as it begins pouring money into lobbying alongside the conventional Big Tech players to shape the contours of AI regulation and lock in its advantage. I thank you for your leadership and support efforts to undertake a comprehensive and fair investigation into Nvidia. The interest surrounding Reddit stems largely from a large audience that religiously visits the service to discuss a potpourri of subjects that range from silly memes to existential worries, as well as get recommendations from like-minded people.

Plus, it would take about 168 Reddits to be worth the same as Meta, which has a $1.29 trillion market value. CFO Drew Vollero says that the company swung to a profit between the first and second halves of 2023. There haven’t been many high-profile public debuts for household names lately, but Reddit’s CFO said the company saw a good opportunity to test the waters.