“Reddit investors shrug off hold rating, bid up stock another 9% as post-IPO rally continues”
April 1, 2024
“…The shares climbed 8.8% on Tuesday to close at $65.11. They’re now up 92% since debuting on the stock market last week under ticker symbol “RDDT.” It was the first social media IPO since Pinterest’s offering in 2019.
Reddit and existing shareholders sold 22 million shares in the offering, raising almost $750 million combined. Over 35 million Reddit shares changed hands on Tuesday, the most since 48.7 million shares were traded on the company’s opening day on the market…”
https://www.cnbc.com/2024/03/26/reddit-stock-jumps-15percent-as-post-ipo-rally-continues.html