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Reddit stock soared on its first day of trading, ending the day up nearly 50% from its initial public offering price of $34 a share. The stock closed at $50.44 on Thursday, up 48% from the IPO ...
Chief among them is Steven Huffman, Reddit’s cofounder and CEO, who plans to sell 500,000 shares. Huffman could make $17 million if the IPO prices at $34. He'll have 3.3% voting power after the ...
Snoo, mascot of Reddit Inc., rings the opening bell during the company's initial public offering (IPO) on the floor of the New York Stock Exchange on Thursday, March 21, 2024.
(Reuters) -Shares of Reddit rose 13% on Friday, following a partnership with artificial intelligence firm OpenAI that is expected to boost advertising income for the social media platform. The ...
GameStop short squeeze. In January 2021, a short squeeze of the stock of the American video game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares ...
r/wallstreetbets, also known as WallStreetBets or WSB, is a subreddit where participants discuss stock and option trading. It has become notable for its colorful jargon, aggressive trading strategies, stories of extreme gains and losses acquired in the stock market, and for playing a major role in the GameStop short squeeze that caused significant losses for a number of US hedge funds and ...
Meme stock. A meme stock is a stock that gains popularity among retail investors through social media. [1][2][3] The popularity of meme stocks is generally based on internet memes shared among traders, [4] on platforms such as Reddit 's r/wallstreetbets. [5] Investors in such stocks are often young and inexperienced investors. [6]
Reddit stock moved higher after giving a better-than-expected Q2 forecast for sales and profit metrics. Many strategists argue that the long-term growth story for Reddit is in artificial ...