{"id":87702,"date":"2024-03-22T00:15:38","date_gmt":"2024-03-22T04:15:38","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=87702"},"modified":"2024-03-21T23:58:25","modified_gmt":"2024-03-22T03:58:25","slug":"reddit-pops-48-in-nyse-debut-after-selling-shares-at-top-of-range","status":"publish","type":"post","link":"https:\/\/www.hedgeco.net\/news\/03\/2024\/reddit-pops-48-in-nyse-debut-after-selling-shares-at-top-of-range.html","title":{"rendered":"Reddit pops 48% in NYSE debut after selling shares at top of range"},"content":{"rendered":"\n<p>(CNBC) The 19-year-old website that hosts millions of online forums priced its IPO on Wednesday at <a href=\"https:\/\/www.cnbc.com\/2024\/03\/20\/reddit-prices-ipo-at-34-per-share-sources-say.html\">$34 a share<\/a>, the top of the expected range. Reddit and selling shareholders raised about $750 million from the offering, with the company collecting about $519 million. The stock opened at $47 and reached a high of $57.80, marking a 70% increase at its peak for the day. It closed at $50.44, giving the company a market cap of about $9.5 billion.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cnbc.com\/2024\/03\/21\/reddit-ipo-rddt-starts-trading-on-nyse.html\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(CNBC) The 19-year-old website that hosts millions of online forums priced its IPO on Wednesday at $34 a share, the top of the expected range. Reddit and selling shareholders raised about $750 million from the offering, with the company collecting [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-87702","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/87702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=87702"}],"version-history":[{"count":1,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/87702\/revisions"}],"predecessor-version":[{"id":87703,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/87702\/revisions\/87703"}],"wp:attachment":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=87702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=87702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=87702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}