All articles tagged with #reddit ipo
Stocks aim to extend gains after all three major indices closed at new highs following the Federal Reserve's decision to maintain interest rates, while Reddit prepares for its IPO on the NYSE at a valuation of nearly $6.5 billion. Yahoo Finance will feature Reddit's Co-Founder & CEO Steve Huffman and key guests including Keith Lerner, Krish Sankar, Jim Gold, and Esther George.
Asian markets surged after the Federal Reserve held interest rates and maintained its forecast for three rate cuts this year, with Japan's Nikkei 225 and Topix hitting record highs. Gold prices are expected to continue soaring, potentially reaching $2,300 per ounce, as central banks continue to buy bullion. Congress is scrutinizing U.S. investments in China, while Reddit has priced its IPO at $34 per share, bringing in $519 million and valuing the company at close to $6.5 billion. Additionally, a new class of weight loss drugs could impact Swiss companies with strong exposure to food categories, according to Vontobel.
S&P 500 futures rose after major averages closed at new records, with the Dow Jones Industrial Average adding 126 points and the Nasdaq 100 futures increasing by 0.67%. Semiconductor stock Micron Technology jumped more than 16% in extended trading, while discount retailer Five Below slipped more than 12%. Gold prices hit a new record, and Japan's Nikkei 225 index hit a new record high. New Zealand unexpectedly slipped into a technical recession, and Fundstrat’s Tom Lee sees Russell 2000 rising 50% in 2024. Reddit priced its IPO at $34 per share, and corporate buybacks of stock are surging, according to Bank of America.
Stocks slipped as Meta's shares declined, dragging on the Nasdaq, while Bitcoin surged to a new record above $72,000 and Nvidia's stock weakened. Investors are awaiting the crucial inflation print on Tuesday for clues about potential rate cuts by the Federal Reserve. Additionally, the Reddit IPO roadshow is set to begin, with the company targeting a valuation range of $5.8 billion to $6.4 billion and expecting to raise about $450.9 million in proceeds.
The stock market took a breather last week, with all three major U.S. averages dipping, while investors await signals on the Federal Reserve's policy plans and upcoming inflation data. Bitcoin reached a record high, surpassing $71,000, following the U.K.'s move to allow trading of cryptocurrency-related exchange-traded products. President Biden's 2025 budget proposal includes tax hikes on corporations and the wealthy. Reddit aims to raise $748 million in its upcoming IPO, seeking a valuation of about $6.5 billion. "Oppenheimer" dominated the 96th Academy Awards, winning seven awards, including best picture and best director.
The upcoming week will see major tech companies like Microsoft, Apple, Alphabet, and Amazon reporting their quarterly results, with Reddit potentially targeting a $5 billion valuation in its IPO. The Browser Company, known for its desktop browser, has introduced a new mobile app that could revolutionize on-the-go search, while discussions continue around Meta, Apple, and OpenAI's interactions with the EU.