{"id":13811,"date":"2024-03-21T21:37:19","date_gmt":"2024-03-21T20:37:19","guid":{"rendered":"https:\/\/costops.com\/index.php\/2024\/03\/21\/reddit-shares-soar-on-first-day-of-public-trading\/"},"modified":"2024-03-21T21:37:19","modified_gmt":"2024-03-21T20:37:19","slug":"reddit-shares-soar-on-first-day-of-public-trading","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2024\/03\/21\/reddit-shares-soar-on-first-day-of-public-trading\/","title":{"rendered":"Reddit shares soar on first day of public trading"},"content":{"rendered":"<p>Company stock price climbed nearly 70% from its IPO, with Cond\u00e9 Nast\u2019s parent company standing to make nearly $1.4bn<\/p>\n<p>Reddit shares opened 38% above initial offer prices in the company\u2019s trading debut on Thursday, valuing the social media platform at $8.87bn in a closely watched opening. The stock peaked at $57.80 a share, up 70%, before dropping to just under $50.<\/p>\n<p>The initial public offering for the San Francisco-based company was first priced at $34 a share, putting its market value at $6.4bn. The company and its selling shareholders raised $748m.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/technology\/2024\/mar\/21\/reddit-stock-price-ipo\">Continue reading&#8230;<\/a><br \/>\n<img src=\"https:\/\/i.guim.co.uk\/img\/media\/134b9411a18d9b60632c82d8e5d710929cad4db6\/0_80_4649_2791\/master\/4649.jpg?width=140&amp;quality=85&amp;auto=format&amp;fit=max&amp;s=1c37a76eb069c1aa5d7840808ba93648\" title=\"Reddit shares soar on first day of public trading\" \/>Company stock price climbed nearly 70% from its IPO, with Cond\u00e9 Nast\u2019s parent company standing to make nearly $1.4bn<br \/>\nReddit shares opened 38% above initial offer prices in the company\u2019s trading debut on Thursday, valuing the social media platform at $8.87bn in a closely watched opening. The stock peaked at $57.80 a share, up 70%, before dropping to just under $50.<br \/>\nThe initial public offering for the San Francisco-based company was first priced at $34 a share, putting its market value at $6.4bn. The company and its selling shareholders raised $748m. Continue reading&#8230;Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company stock price climbed nearly 70% from its IPO, with Cond\u00e9 Nast\u2019s parent company standing to make nearly $1.4bn Reddit shares opened 38% above initial offer prices in the company\u2019s trading debut on Thursday, valuing the social media platform at $8.87bn in a closely watched opening. The stock peaked at $57.80 a share, up 70%, &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"http:\/\/costops.com\/index.php\/2024\/03\/21\/reddit-shares-soar-on-first-day-of-public-trading\/\"> <span class=\"screen-reader-text\">Reddit shares soar on first day of public trading<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":0,"featured_media":13812,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/13811"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=13811"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/13811\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/13812"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=13811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=13811"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=13811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}