'Reddit Eyes Valuation Of Up To $6.5B In IPO; Reddit Plans To Target A Price Range Of $31-$34 A Share' - WSJ
Portfolio Pulse from Benzinga Newsdesk
Reddit is aiming for a valuation of up to $6.5 billion in its upcoming IPO, with a share price target range of $31-$34, according to the Wall Street Journal.
March 01, 2024 | 8:17 pm
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Reddit is targeting a valuation of up to $6.5 billion in its IPO, with plans to price shares between $31 and $34.
The announcement of Reddit's IPO and its targeted valuation and share price range directly impacts its stock as it sets investor expectations. The high valuation and specific price range suggest confidence in the company's value and growth prospects, likely leading to increased investor interest and potentially a positive short-term price movement post-IPO.
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IMPORTANCE 100
RELEVANCE 100