Reddit Shares Open For Trade At $47/Share; IPO Priced At $34/Share
Portfolio Pulse from Benzinga Newsdesk
Reddit's shares opened for trading at $47 per share, significantly higher than its IPO price of $34 per share.
March 21, 2024 | 5:16 pm
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Reddit's shares opened at $47, well above the IPO price of $34, indicating strong market interest.
The significant jump from the IPO price of $34 to the opening price of $47 for Reddit's shares suggests a strong demand and positive investor sentiment towards Reddit. This could lead to a short-term upward momentum in RDDT's stock price as the market reacts to the successful IPO.
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