Investors are eagerly anticipating the initial public offering (IPO) of Reddit, Inc. (NYSE:RDDT), which is set to make its public debut on the New York Stock Exchange this week.
Jonathan Corpina, senior managing partner at Meridian Equity Partners, joined Benzinga's PreMarket Prep on Monday and set the stage for potentially massive interest in Reddit’s public listing. He noted the IPO is reportedly five times oversubscribed.
Corpina sees even more interest coming from retail investors when the stock opens for trading. He told Benzinga he’s expecting a "snowball effect" as Reddit users and retail traders pile into the stock.
"It's the prettiest girl at the dance, everybody wants to ask her to dance," Corpina said.