The social media company’s debut on the New York Stock Exchange was one of the first major tech initial public offerings of the year.

Reddit shares opened up about 38 percent on Thursday in their first day of trading, in a sign of investor eagerness that set the stage for more tech companies to reach the stock market this year.

Archive link: Reddit Opens Up 38%, as Shares Begin Trading

  • bradorsomething@ttrpg.network
    171·
    8 months ago

    This wasn’t a great first day performance. Sure there was an initial bid up, but that dropped off quickly. We need to see strong buying resistance on a drop (showing institutional buying) to keep the vultures from circling. (Not financial advice)