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Reddit eyes a $6 5 billion valuation for its planned IPO well short of its pandemic-era peak

قالیشویی تهران > بلاگ > Forex Trading > Reddit eyes a $6 5 billion valuation for its planned IPO well short of its pandemic-era peak
Reddit eyes a $6 5 billion valuation for its planned IPO well short of its pandemic-era peakReviewed by مدیر on Dec 1Rating:

what is reddit doing to the stock market

Countless users unfamiliar with Wall Street Bets have been exposed to its exuberance and high-risk, high-reward behavior, often through posts showing off multimillion-dollar gains on GameStop shares. Its market debut, expected in March, will be the first major tech initial public offering of the year. It’s the first social media IPO since Pinterest went public in 2019. The social media company plans to target a price range of $31 to $34 per share in the first-time share sale, the people said, asking not to be identified because the information is private. Almost any post related to the stock market and investments is welcome, including pre IPO news, futures & forex related to stocks, and geopolitical or corporate events indicating risks; outside this is offtopic and can be removed.

what is reddit doing to the stock market

The company, founded in 2005 by technology entrepreneurs Alexis Ohanian and Steve Huffman, said it has incurred net losses since its inception. It reported a net loss of $90.8 million for the year ended Dec. 31, 2023, compared with a net loss of $158.6 million the year prior. If you follow even a modicum of newsy stock trends, you’ve probably heard that certain unlikely stocks have flourished, particularly during the past week. ” you’re not the only one — especially if you’ve never heard of Reddit before now. Options-obsessed members have boasted about trading everything from newly bankrupt car-rental giants to now-delisted Chinese café chains.

“For example, although we saw increased growth in our user base during the COVID-19 pandemic, we experienced lower levels of DAUq growth and declining DAUq as the effects of the COVID-19 pandemic subsided,” the filing said. Reddit appears to be investigating a business strategy akin to that of Roblox, which derives  the bulk of its revenue https://www.dowjonesanalysis.com/ from digital sales on its social gaming platform, and online retailer eBay. The company wants to introduce more features to create a user economy that could include games, according to the filing. Reddit said there are currently informal exchanges of physical and digital goods and services that may create another line of revenue.

Stock Movers of the Day

In 2021 Reddit raised funds valuing it at $10 billion, and Bloomberg News reported the following year that the company could potentially have been valued as much as $15 billion in an IPO. Some details including the price range and valuation were reported earlier by The Wall Street Journal. Bublick noted that Robin Hood gets rid of the traditional barriers to entry for people wanting to dabble in the stock market, saying it is “available, basically, to everyone with a smartphone.”

Please search before posting to help us cut down on repetitive posts. If you are new to the markets, click here or see our resources in the sidebar. Additionally, see our quick guide on how to ask good questions and share quality content. Regarding risks, Reddit said its daily active unique figures “may fluctuate https://www.forex-world.net/ or decrease in one or more markets from time to time due to various factors.” As a group, the WallStreetBets group caused a handful of companies’ stocks to spike, including GameStop, and made the case for the stock as a value investment — that it was more valuable than the stock price indicated.

Yet both generate trade ideas that proliferate across market participants. And Wall Street Bets’ ability to turn free, user-produced research into hugely viral media has seemingly been underestimated. Yet previous Reddit-fueled rallies typically lasted a matter of days before profit-taking pulled prices back to earth. The subreddit’s obsession with GameStop shows no signs of abating.

Simply put, the subreddit amplified a trade, stoked a fear of missing out that pulled in new investors, and reveled in Wall Street’s surprise. Halving happens once about every four years, with occurrences in 2020, 2016, and 2012. In the 12 months after the previous three halvings, bitcoin climbed by 8,069%, 284%, and 559%.

  1. Shares were trading at around $350 on Wednesday, compared to less than $18 a share earlier this month — essentially creating billions of dollars in value for shareholders.
  2. Yet both generate trade ideas that proliferate across market participants.
  3. The company plans to trade on the New York Stock Exchange under the ticker symbol “RDDT.”
  4. The biggest of those listings was the $1.57 billion offering by Amer Sports Inc. in January.
  5. Trading volumes in the investment products hit a record of more than $30 billion in the same stretch.

If you are harassing someone, you will be permanently and immediately banned and reported to Reddit admins. Reddit has raised about $1.3 billion in funding and has a post valuation of $10 billion, according to deal-tracking service PitchBook. Reddit spun out of Conde Nast’s parent company, Advance Magazine Publishers, in 2011. For example, Google on Thursday announced an expanded partnership with Reddit that will give the search giant access to the company’s data to, among other uses, train its AI models. Reddit said that by 2027 it estimates the “total addressable market globally from advertising, excluding China and Russia, to be $1.4 trillion.” Reddit said the current addressable advertising market is $1.0 trillion, sans China and Russia.

Reddit eyes a $6.5 billion valuation for its planned IPO—well short of its pandemic-era peak

This report was featured in the Thursday, Jan. 28, 2020, episode of “Start Here,” ABC News’ daily news podcast. “And the history of people building economic security through this type https://www.forexbox.info/ of trading activity is pretty rare,” he noted. Still, the student admitted that a lot of his trading ideas are “very impulsive,” and “a lot of what people do is basically gambling.”

what is reddit doing to the stock market

The event puts pressure on supply as it slows the rate at which new bitcoins enter the market, and this year’s halving will come at a time when demand is sharply rising. A slate of bitcoin-ETF approvals has fueled demand and retail interest, while markets are bracing for the bitcoin halving event that will lower the reward for miners and cut the volume issued daily in half. Reddit was weighing feedback from early meetings with potential IPO investors that it should consider a valuation of at least $5 billion, Bloomberg News reported in January. The company was targeting a valuation in the mid-single-digit-billions, people familiar with the matter said at the time.

Meme Stocks

Any posts asking for a review or critique of their portfolio should be posted in the quarterly portfolio thread stickied at the top of r/StockMarket. If you’re following the GameStop spike, you’ll notice that memes affect the trading action. Elon Musk, founder of Tesla and SpaceX, showed his affinity for the meme world by tweeting 1 word — “Gamestonk” — for GME. What’s a stonk? Great question. “And now you have more people at home and spending more time on their devices. It’s all fuel for the acceleration of these sentiment cycles.”

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“It’s absolutely part of what is contributing to this gain stock event.” “You have these media-driven platforms where the media isn’t controlled by the institutions in the way that it has historically been,” Smith said. “It’s really a sign that the institutions are losing some control.” “There’s a finite supply and now we have a potentially huge increase in demand” with spot bitcoin ETF approval, Lee said in a recent interview, “so I think in five years something around half a million would be potentially achievable.” San Francisco-based Reddit is a high-profile member of this year’s club of newly and soon-to-be public companies, following a two-year slump in IPOs on US exchanges.

ABC News Live

After shares experienced their initial pop roughly two weeks ago, gains have continued in pronounced fashion and amounted to more than 300% this week alone, through Tuesday’s close. There’s also financial gain to be had for those pursuing internet notoriety. Reddit users can award posts and comments with various virtual medals, many of which can be gifted only through the use of real-world currency. CoinShares data released Monday indicates that last week digital investment products saw the second-biggest weekly inflows on record, at $1.84 billion.

The company plans to being marketing the shares to potential investors on March 11, they added. “What we have is the perfect storm of stimulus money, a cohort of younger investors — or some people would call them gamblers — entering the market,” Galloway told ABC News. “And we also have these platforms that encourage sort of these weapons of mass trading in the form of margin [calls] or options that creates this explosive upward effect.” This subreddit’s purpose is to analyze, discuss, and participate in stock market related areas. Reddit’s structure and the democratic nature of users picking the most popular content differs wildly from Wall Street’s research reports and market analysis.

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