"Reddit's IPO Soars, CEO's Wealth Skyrockets, and Content Moderation Costs Rise"
TL;DR Summary
The launch of options on Reddit drew a surge of bullish bets, propelling the social media platform's stock up by 30% on the New York Stock Exchange, following last week's strong market debut. With 90,000 Reddit options changing hands, the trading leaned towards bullish bets, particularly on call options with strike prices of $50 to $75. Analysts noted that the bullish options activity may have contributed to Monday's stock rally, with some drawing parallels to the options dynamic seen in meme stocks like AMC Entertainment and GameStop.
- Reddit options launch draws bulls, as shares soar Reuters
- Reddit shares rise 30% to start week after social media company's IPO CNBC
- Reddit’s CEO gets $900 million richer from stock’s pop. Here’s who else made bank. MarketWatch
- Reddit may need to ramp up spending on content moderation, analysts say Reuters
- How a Legacy Media Company Dwarfed Venture Capitalists' Returns on Reddit The Information
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