"Reddit IPO: Unpacking the $2 Billion Windfall and Day 2 Trading Trends"
TL;DR Summary
Reddit's stock, RDDT, is trading slightly down on its second day after its IPO, following a 48% surge on its market debut. Investors are cautious due to the lack of a lockup period for share offerings, but the company is positioning itself as an AI play with potential for profitability. Skepticism remains about Reddit's path to sustainability and monetization despite the initial excitement in the market.
- Reddit IPO: How the social media stock is trading on day 2 Yahoo Finance
- Condé Nast’s parent made a $2 billion windfall from Reddit’s IPO. Now come the uncomfortable questions CNN
- The Big Number: $50.44 The New York Times
- Sam Altman's Reddit stake worth over $600 million after first day pop on NYSE CNBC
- Reddit IPO: Shares Pop 48% in First Day of Trading, Internet Company Nets $519 Million Variety
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