Reddit Pricing IPO At $34 Per Share, At High End Of The Expected $31-$34 Range; Shares To Begin Trading On NYSE On March 21, 2024, Under Ticker Symbol "RDDT"
Portfolio Pulse from Benzinga Newsdesk
Reddit has announced the pricing of its IPO at $34 per share, at the high end of its expected range. The company is offering 22 million shares, with trading on the NYSE under the ticker 'RDDT' starting on March 21, 2024.
March 20, 2024 | 9:47 pm
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Reddit's IPO is priced at $34 per share, with 22 million shares being offered. Trading begins on the NYSE under ticker 'RDDT' on March 21, 2024.
The pricing of Reddit's IPO at the high end of the expected range indicates strong investor interest and confidence in the company's value proposition. The commencement of trading on the NYSE is a significant milestone for Reddit, likely attracting both institutional and retail investors. This could lead to a positive short-term impact on the stock price as demand for shares may exceed the initial supply.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100