Reddit IPO Indicating $49-$49.25/Share; IPO Priced At $34/Share On 22M Shares
Portfolio Pulse from Benzinga Newsdesk
Reddit's IPO is indicating a share price of $49-$49.25, significantly higher than its initial pricing at $34 per share for 22 million shares.
March 21, 2024 | 3:52 pm
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POSITIVE IMPACT
Reddit's IPO price indication suggests a strong market debut, with share prices significantly exceeding the initial $34 pricing.
The significant increase from the initial IPO pricing to the indicated share price suggests strong investor interest and market confidence in Reddit, likely leading to a positive short-term impact on RDDT's stock price.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100