Should You Buy Reddit Stock After Its Sizzling IPO?
In 2012, Meta Platforms (then known as Facebook) made a big splash with its initial public offering. Twitter followed in 2013 but was later taken private by Elon Musk and rebranded as X. Snapchat and Pinterest went public in 2017 and 2019, respectively. And now there's another social media platform you can invest in.
Reddit's (NYSE: RDDT) shares began trading on the New York Stock Exchange (NYSE) on Wednesday, March 20, 2024. On its first day on the market, the stock skyrocketed 48%.
Although Reddit is new to the stock market, the company has been around for nearly two decades. University of Virginia roommates Steve Huffman and Alexis Ohanian founded Reddit in 2005 intending to make a website that would be "the front page of the Internet."
Source Fool.com
