The social media company’s debut on the New York Stock Exchange was one of the first major tech initial public offerings of the year.

Reddit shares opened up about 38 percent on Thursday in their first day of trading, in a sign of investor eagerness that set the stage for more tech companies to reach the stock market this year.

Archive link: Reddit Opens Up 38%, as Shares Begin Trading

  • bean
    OP
    46•3 months ago

    What tech?? And eagerness for more? This feels like it will become a pump and dump.

    Edit, addition: Why does The New York Times seem eager to suck Reddit’s dick. What the hell??

    • @Coach@lemmy.worldEnglish
      12•3 months ago

      It’s about to close even on the day. It pumped at open, then dumped until close. Should continue to dump for a while, so buy puts.

    • @DragonTypeWyvern
      4•3 months ago

      Spez sank the ship and now he’s trying to sell the cargo before people ask where, exactly, it is.

    • bean
      OP
      37•3 months ago

      Same! I’ve actually been really good about using Lemmy now. I only end up on Reddit when there is some obscure question someone answered ages ago. Not for the new content and certainly not posting comments or submitting any. Spez burned us all. He can rot in hell.

    • comador
      3•3 months ago

      probably would not be a stretch to say Lemmy and Mastadon are the real winners after the reddit exodus. Hope spez suffers a catastrophic failure in his IPO.

  • @bradorsomething@ttrpg.network
    16•3 months ago

    This wasn’t a great first day performance. Sure there was an initial bid up, but that dropped off quickly. We need to see strong buying resistance on a drop (showing institutional buying) to keep the vultures from circling. (Not financial advice)

  • SteefLem
    11•3 months ago

    Its 50% up i just saw. But give it a few days and the thing will crash. Pump and dump. Old investors want there money back they already put in years ago, as soon as they got that… gone…

    • @Coach@lemmy.worldEnglish
      7•3 months ago

      50% from what? It’s the first day. It opened at $47 and it’s at $50.16, at close. That’s not 50%.

      • SteefLem
        8•3 months ago

        I opend my ticker app it says +50% didnt bother to look any further. That stock is just as full of air as trump

        Oh i just checked they use 34$ as start price

        • @Coach@lemmy.worldEnglish
          3•3 months ago

          So weird. TradingView shows $47 at open, a high of $57.80 and a low of $45.05.

          • SteefLem
            4•3 months ago

            I think they or this ticker includes the pre buyin stocks price that “loyal” reddit users could buy So that 50% up from that close not today or somehing.