Reddit surges 48.4% after NYSE debut

By Agence France-Presse

Mar 23, 2024 12:15 am

NEW YORK CITY: Shares of social media company Reddit soared nearly 50 percent on the New York Stock Exchange (NYSE) on Thursday in a buoyant market debut that raised hopes about the IPO market.

The company, which trades under the ticker RDDT, finished at $50.44, up 48.4 percent from its initial public offering price (IPO), lifting the valuation to around $8 billion.

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