Reddit shares jumped 48% in their debut on Thursday in the first initial public offering for a major social media company since Pinterest hit the market in 2019.
Reddit and Meta: Diverging Paths in Digital Advertising
Overview: The advertising landscape is witnessing a significant shift as Reddit Inc. $Reddit(RDDT)$ , six months into its life as a publicly traded company, starts to attract advertisers by offering a unique approach to targeted ads. While Meta Platforms Inc. $Meta Platforms, Inc.(META)$ and other tech giants like Alphabet’s Google $Alphabet(GOOG)$ and Amazon $Amazon.com(AMZN)$ rely heavily on user identities and personal data for ad targeting, Reddit takes a different path, focusing on users' interests through its extensive
On the first day of the $Reddit (RDDT)$ IPO, Cathie Wood's Ark Invest bought 10,000 shares, with 5,914 shares of Reddit purchased in the $ARK Next Generation Internet ETF(ARKW)$ fund and 4,068 shares in the $ARK Fintech Innovation ETF(ARKF)$ Since it was bought on the first day, Reddit's IPO price was $34 per share, the Thursday opening price was $47 per share. As of April 2nd, the closing price was $45.97 per share, and this batch of holdings may already be incurring losses. So, if you had the chance to buy Ark at the bottom, would you buy it?
Reddit ipo demonstrated that ipo is back n stable in this technical bull market- open at $46.8 to $47 n closed at $50😎 also, one of investors , open ai Sam did not sell his 9% stake in Reddit at all😎 reddit has data ai potential n biz model transform growth
Reddit ipo upsude leverage record market rally after fed rate decision
Reddit Prices IPO at $34 a Share, Valuing It at $6.4 Billion
Reddit, the popular news aggregation social media site, priced its initial public offering at $34 a share late Wednesday, at the high end of its expected range of between $31 and $34 a share.At that price, Reddit would be valued at $6.4 billion, according to the report. Reddit is raising $519.4 million from the sale of nearly 15.3 million shares. Other Reddit investors are selling an additional 6.7 million shares through the IPO.Investors hope Reddit's IPO could spark a rebound for new stock offerings after down years in 2022 and 2023. Following a record-setting year in 2021 when nearly 400 companies went public in the U.S. and raised $142.4 billion, issuance slowed to 179 companies generating a combined $27.1 billion in the past two years, according to Renaissance Capital.Reddit's IPO comes one day after another unicorn, artificial intelligence infrastructure provider Astera Labs, debuted with a 72% gain in its shares.