Logos of Reddit are displayed, at the New York Stock Exchange in New York City, US, Mar 21, 2024. Social media platform Reddit's shares ended their first day of trading in New York up 48 per cent, signalling that investor appetite for initial public offerings of promising yet loss-making companies could be returning.
Shares of the San Francisco-based company opened at US$47 on the New York Stock Exchange on Thursday after pricing at US$34 in the IPO, "We don't get many large tech IPOs. Those tend to be very popular because it's hard to buy that kind of growth," White said. But the move is fraught with risks, analysts have said. Typically shut out of bidding in an IPO, retail traders eager to gain exposure to a newly listed company buy shares only when they start trading.