"Reddit's Post-IPO Surge: Investors Ignore Hold Rating, Drive Stock Up 9%"

Reddit's stock continued its post-IPO rally, climbing 8.8% despite receiving a hold rating from analysts. The company's shares closed at $65.11, marking a 92% increase since its debut on the stock market. New Street Research issued a neutral rating with a $54 price target, anticipating volatility leading up to the first earnings report. Reddit's market cap has reached about $12.3 billion, with ongoing interest in potential data licensing deals and an expanded partnership with Google. However, an FTC inquiry into Reddit's data licensing business could pose a challenge. Despite this, Reddit users and employees are capitalizing on the stock's surge, with some expressing regret for not buying more shares.