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    Reddit stock starts trading 38% above initial public offering price

    Reddit, the San Francisco social media site that describes itself as "the front page of the internet," is debuting as a public stock on Thursday.
    by Bobby Allyn Mar 21, 2024 3 minutes
    Updated March 21, 2024 at 2:02 PM ET

    Investors have upvoted Reddit in droves.

    Reddit stock began trading on the New York Stock Exchange Thursday after the IPO priced at $47 a share — topping its offering price of $34 for each share — as investors showed enthusiasm for a social media site that has ambitious expansion plans but has never been profitable.

    With the pop of its opening price, notching just above $55 a share during the day, Reddit's valuation soared to around $10 billion, trading under the ticker symbol RDDT.

    The IPO is being viewed as a

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