Reddit Inc.'s initial public offering (IPO) has significantly impacted the tech sector and Wall Street, marking a strong debut with a $748 million IPO. The social media platform's stock experienced a bombastic first trading session on the NYSE, hinting at the potential emergence of a new meme stock. Following its public listing, Reddit now faces the challenge of generating profits. The company's stock rallied as much as 16% after the market debut, with the launch of options trading attracting bullish bets. This positive momentum could provide an impetus for other venture-backed technology companies considering IPOs. Shares in Reddit surged last Thursday in their blockbuster IPO and saw another explosion on Monday as investors showed optimism by buying into options on the firm. The stock's performance continues to charge higher, even as it receives a neutral rating. The Reddit options launch draws bulls as shares extend gains.
Reddit after options trading began for the stock and it’s now up 2x since IPO https://t.co/lqzUjmLS1k
Reddit stock charges higher, even as it picks up a neutral rating https://t.co/OLFs2J8Unn
1/ Massive congrats to the Reddit team last week on their IPO! Social internet bellwether, a 20 year success story. This article from Tomasz however sparked something: https://t.co/wWovGMWFU2
Shares in Reddit, which surged last Thursday in their blockbuster IPO, exploded again Monday as bullish investors bought into options on the social media firm https://t.co/VjBFUqiHYk
⚠️ REDDIT OPTIONS LAUNCH DRAWS BULLS AS SHARES EXTEND GAINS Full Story → https://t.co/166HBcrOdi Options on Reddit drew a flurry of bullish bets on Monday as the social media platform's stock rallied as much as 16% after last week's strong market debut. https://t.co/CtrjtpY7vA
Social media platform Reddit Inc.'s strong debut following its $748 million initial public offering could provide fresh momentum for a sizable pipeline of venture-backed technology companies exploring IPO plans. https://t.co/5mbVQ6cWLq https://t.co/SYClFOTZdA
Reddit's stock had a bombastic first trading session on the NYSE. Could investors be witnessing the birth of a new meme stock? https://t.co/yRaX2Y9Ucz
Reddit has had a great public listing. Now it must make money. Explainer by @ujjainidutta_ & @ditipujara. https://t.co/vfV4Ii8nhU
Reddit's IPO is a big deal. For the tech sector and Wall Street. Explainer by @ujjainidutta_ & @ditipujara. https://t.co/vfV4Ii8nhU