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Reddit shares rise 30% to start week after social media company’s IPO

Posted on AllSides March 25th, 2024
From The Center
Timothy A. Clary | AFP | Getty Images

Reddit shares were up 30% to $59.80 at the market’s close on Monday.

The social media company’s stock has been rising ever since it went public last week and raised roughly $750 million from the IPO, of which the company brought in about $519 million.

Reddit shares soared 48% when it began trading on the New York Stock Exchange under the stock ticker “RDDT,” resulting in a number of moderators and users, known as Redditors, earning millions of dollars as a group. Those Redditers, along with corporate insiders and their...

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