IPOS - Is Reddit's IPO Another 'Moon Right Away' Story Like Rivian Beyond Meat? | Benzinga
Reddit Inc‘s (NYSE:RDDT) upcoming initial public offering (IPO), expected on March 21, has investors bracing themselves for what could be a turbulent ride in the stock market.
What Happened: The news that Reddit’s IPO is between four and five times oversubscribed has stirred both excitement and skepticism among market participants. The social media platform is aiming for a $6.5 billion valuation — $10 billion less than the valuation it achieved for its last fundraising round in August 2021.
Related: Reddit’s IPO Buzz – ‘Bullish On RDDT’ Vs. ‘Immediate Short’
While some see the oversubscription as a bullish sign, others remain cautious, citing the prevailing negativity surrounding the IPO within Reddit communities.
Despite concerns, there’s speculation that Reddit could experience a surge in its stock price initially. This surge would be fueled by the frenzy of retail investors eager to participate in the IPO.
We looked at responses as Redditors discussed the oversubscription and offered ...