A Few Lucky People Can Get Reddit IPO Shares: Here's How
Portfolio Pulse from Surbhi Jain
Reddit Inc. is preparing for its IPO, with shares to be listed on the NYSE under the symbol RDDT, priced between $31.00 and $34.00 per share. Robinhood Markets Inc (NASDAQ:HOOD) will offer Reddit's IPO shares through its IPO Access list, allowing select users an exclusive opportunity to invest. The IPO is set for March 21, 2024, with 15,276,527 shares of Class A common stock being offered by Reddit and an additional 6,723,473 shares by selling stockholders. Discussions on Reddit's potential as a stable investment or a volatile meme stock are ongoing within the community.
March 12, 2024 | 10:21 pm
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POSITIVE IMPACT
Robinhood Markets Inc (NASDAQ:HOOD) is offering exclusive access to Reddit's IPO shares through its IPO Access list, potentially increasing user engagement and trading volume on its platform.
By offering exclusive access to Reddit's IPO shares, Robinhood could see an increase in user engagement and trading volume, as investors are drawn to the platform for the unique opportunity. This could positively impact Robinhood's stock in the short term as it highlights the platform's unique offerings and attracts more users.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Reddit Inc. is set to go public with its IPO on March 21, 2024, with shares priced between $31.00 and $34.00. The offering includes over 15 million shares of Class A common stock by Reddit and an additional 6.7 million shares by selling stockholders.
Reddit's IPO is a significant event for the company as it transitions into a publicly traded entity. The pricing of shares and the total offering suggest a strong market interest. Given the anticipation and the discussions around its potential, the IPO could see a positive reception, leading to a likely increase in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100