9621 Agnes Crossing, Lake Suzanneview, New Mexico Island 84604-9295.
One of the most popular social media platforms reddit The expected day has arrived. The public offering, which the company has been preparing for for years, officially took
One of the most popular social media platforms reddit The expected day has arrived. The public offering, which the company has been preparing for for years, officially took place today. Reddit said: “RDDT” listed on the New York Stock Exchange (NYSE) today around 20:15 GMT.
The 19-year-old Reddit’s listing was one of the most anticipated IPOs of 2024. For this reason, we didn’t see any surprising results once it opened. The company’s shares took off as soon as it went public, delivering serious profits for investors.
Reddit had announced that the purchase price for stock lots would be $34, which is the high end of the $31-34 range. The company also experienced a huge rise as soon as it was listed on the New York Stock Exchange. So much so that the stock price opened at $47, to $57.80 reaches. This is an increase of 69% compared to the price of $34.
This huge increase, due to the intense interest, naturally caused a huge increase in the company’s market value. The company opened with a market value of $6.4 billion. With the increase in value, to $10.9 billion lifted off.
Reddit’s shares subsequently fell. The share price is trading at $50.97 at the time of writing.
Follow Webtekno on Threads and don’t miss the news
Source: Web Tekno
Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.
