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Trading under the ticker “RDDT,” shares started trading at $47 and reached a high of $57.80 early Thursday afternoon, up as much as 70% from its initial price offering of $34.
Reddit will trade on the New York Stock Exchange under the ticker RDDT. Founded in 2005, Reddit allows registered users to discuss topics of interest in various communities called subreddits.
In turn, they will be able to buy Reddit shares at its IPO price before the stock starts trading. This is “a privilege normally reserved only for big investors,” The Wall Street Journal added.
Reddit debuted on the stock market on the morning of March 21, 2024 with the ticker symbol RDDT. Reddit has received praise for many of its features, such as the ability to create several subreddits for niche communities, being a platform for raising publicity for numerous causes, and has grown to be one of the most visited websites on the ...
A ticker symbol or stock symbol is an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. In short, ticker symbols are arrangements of symbols or characters (generally Latin letters or digits) representing specific assets or securities listed on a stock exchange or traded publicly. A ...
Reddit stock soared on its first day of trading, ending the day up nearly 50% from its initial public offering price of $34 a share.The stock closed at $50.44 on Thursday, up 48% from the IPO ...
On February 24, the GameStop stock price doubled within a 90-minute period, and then averaged in the neighborhood of $200 per share for another month. On March 24, the GameStop stock price fell 34 percent to $120.34 per share after earnings were released and the company announced plans for issuing a new secondary stock offering.
Reddit currently trades at 8.5 times this year's estimated sales. Assuming its price-to-sales ratio holds steady, it would need to increase its annual revenue at a compound annual growth rate ...