SAN FRANCISCO (AP) — Reddit will enter a new era as a publicly traded company with a market value of $6.4 billion after the social media platform’s initial public offering was priced at $34 per share.
The price announced late Wednesday came in at the top end of the target range set by Reddit’s investment bankers as they spent the past few weeks gauging investor demand for the stock. It sets the stage for Reddit’s shares to begin trading Thursday on the New York Stock Exchange under the ticker symbol “RDDT” in a debut likely to spur a flurry of commentary on Reddit’s own platform, as well as competing social
→ Continue reading at The Associated Press
