IPOS - 'Level The Playing Field': Reddit CEO Reveals On IPO Day He's A Member Of WallStreetBets | Benzinga
Social media platform company Reddit Inc (NYSE:RDDT) is set to make its public debut on the New York Stock Exchange on Thursday. Reddit co-founder and CEO Steve Huffman talked about the retail aspect of Reddit ahead of the company’s IPO.
What To Know: Reddit is best known on Wall Street as the home of r/WallStreetBets. In early 2021, several retail traders came together on the subreddit and sparked a massive short squeeze in original meme stocks GameStop Corp (NYSE:GME) and AMC Entertainment Holdings Inc (NYSE:AMC).
Although r/WallStreetBets is the most well-known, there are several other subreddits on the platform where retail traders discuss markets on a daily basis.
One dynamic that stands out from Reddit’s IPO: the company reserved 8% of its ...