Social Media giant Reddit (RDDT) is set to make its Initial Public Offering (IPO) on the New York Stock Exchange on Thursday. The company is pricing its IPO stock price at around $34 per share. Many on Wall Street patiently await the listing in real-time as the stock's initial performance could be a signal of good things to come for various sectors. UF Cordell Finance Professor and IPO Expert Jay Ritter joins Yahoo Finance to discuss Reddit's IPO on the NYSE and what it could mean for the IPO market moving forward. Ritter elaborates on what could really be make or break for what's to come in the IPO market: "Fintech companies, Chime and Plaid... Rubrik, a cyber security company, are among those that are reported to be planning on doing an IPO this year. Given that the stock market is hitting record highs again today and the positive reception to these IPOs, I think we're going to see a continuing strong recovery of the IPO market this year." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
Social Media giant Reddit (RDDT) is set to make its Initial Public Offering (IPO) on the New York Stock Exchange on Thursday. The company is pricing its IPO stock price at around $34 per share. Many on Wall Street patiently await the listing in real-time as the stock's initial performance could be a signal of good things to come for various sectors.
UF Cordell Finance Professor and IPO Expert Jay Ritter joins Yahoo Finance to discuss Reddit's IPO on the NYSE and what it could mean for the IPO market moving forward.
Ritter elaborates on what could really be make or break for what's to come in the IPO market: "Fintech companies, Chime and Plaid... Rubrik, a cyber security company, are among those that are reported to be planning on doing an IPO this year. Given that the stock market is hitting record highs again today and the positive reception to these IPOs, I think we're going to see a continuing strong recovery of the IPO market this year."
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino
Barrons.com
Reddit, the popular social media platform and forum for news and information sharing, is expected to hit the stock market soon. On Wednesday evening, the company priced its initial public offering at $34 a share, the top of its estimated range. Reddit is still losing money, and historically, unprofitable IPOs tend to have a rough first few months.
Bloomberg
(Bloomberg) -- Reddit Inc. shares jumped 38% over their initial public offering price after the social media company and its shareholders raised $748 million priced at the top of a marketed range, sending a strong signal that the window for US IPOs is reopening.Most Read from BloombergNY Gears Up to Seize Trump Westchester Assets If Fraud Fine Is UnpaidBaltimore Wants to Sell Hundreds of Vacant Homes for $1 EachJustice Department to Sue Apple for Antitrust Violations as Soon as ThursdayWhat Happ
Bloomberg
(Bloomberg) -- Reddit Inc. Chief Operating Officer Jen Wong said that the social media site, which will begin trading publicly Thursday, will continue to see its data licensing business grow as artificial intelligence gains traction.Most Read from BloombergNY Gears Up to Seize Trump Westchester Assets If Fraud Fine Is UnpaidBaltimore Wants to Sell Hundreds of Vacant Homes for $1 EachJustice Department to Sue Apple for Antitrust Violations as Soon as ThursdayWhat Happens If Trump Can’t Post His $
Associated Press Finance
Kate Nelson was in Los Angeles pursuing her passion for stand-up comedy and theater when the COVID-19 pandemic hit. The senior at Emerson College had just spent a few hundred bucks on headshots and through her internship had made some connections at HBO. As laid-off workers streamed into food banks in the first months of the pandemic, Farmlink helped meet the need — delivering over 50,000 pounds of produce in just one month.
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