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Reddit soars 75% cumulatively: Will you buy it?
On March 25, Reddit options debuted trading, drawing an influx of bullish bets. The stock price surged 30% that day, closing at $59.80. Prev Show More
On March 25, Reddit options debuted trading, drawing an influx of bullish bets. The stock price surged 30% that day, closing at $59.80. Previously, $Reddit (RDDT.US)$ soared 48% on its first trading day on March 21. The stock opened at $47 after an initial public offering (IPO) price of $34 and ended trading at $50.44. It is affected by recent popularity, which may increase the stock price.  

Its existing shareholders priced the stock at $34 a share, at a valuation of around $6.4 billion, raising over $700 million dollars.

Renowned as one of the most popular social media platforms, it had an average of 73.1 million daily active users in last year's quarter. 8% of the shares will be reserved for community users, moderators, and certain board members. Also, many high-profile tech insiders were early social media company investors, with OpenAI CEO Sam Altman investing at least $60 million in Reddit.

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