Social-media platform Reddit, Inc. (NYSE:RDDT) is all set to debut on Wall Street on Thursday, with the initial public offering price of $34 per share. Ahead of the much-awaited debut, tech venture capitalist Gene Munster commented on the pricing and the near-term prospects for investors.
What Happened: “Grab the popcorn , throw out the fundamentals, and enjoy ’s first day of trading,” said Munster in a post on X. The tech analyst and Deepwater Asset Management Managing Partner took exception to the pricing of the offering. “If it was about fundamentals, the stock would have been priced at the low end of the $31-$34 range.”
The stock would open trading at six ...