News Formal

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

  • 📰 NBCDFW
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

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

Reddit'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.

Plexo Capital founding managing partner and Reddit shareholder, Lo Toney, told CNBC that Reddit's offering was"a positive sign not only for Reddit, but I think also the tech industry and what it might mean for future IPOs."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,.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 288. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Reddit shares close 30% up following social media company's IPOReddit shares were up about 30% to $59.80 at the market's close on Monday.
Source: CNBC - 🏆 12. / 72 Read more »

Reddit shares close 30% up following social media company's IPOReddit shares were up about 30% to $59.80 at the market’s close on Monday.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »