Reddit Inc. is on the brink of its highly-anticipated IPO, recently filing Amendment No. 1 to Form S-1 on March 11.
As Reddit gears up for its IPO, select individuals have the chance to partake in the offering through Robinhood Markets Inc‘s HOOD IPO Access list. The stock will be traded on the New York Stock Exchange under the symbol RDDT.
The official filing disclosed that Reddit aims to commence the IPO with a price per share estimated between $31.00 and $34.00. The company plans to issue 15,276,527 shares of its Class A common stock, in addition to 6,723,473 shares offered by selling stockholders. Notably, this signifies Reddit's debut in the public market, with no prior trading of its Class A common stock.
Robinhood suggests the expected IPO date to be March 21, 2024.
- User TylerHowe initiated a conversation on r/investing, pondering Reddit's IPO potential and its attractiveness as an investment. The discussion questioned whether Reddit would exhibit stability or follow the volatile path of meme stocks.
- Within r/MoneyDiariesACTIVE, suzygreeenberg raised inquiries about participating in Reddit's IPO. As users exchanged thoughts, concerns surfaced regarding Reddit's past profitability challenges. Meanwhile, pre-registered users showed interest in the implications of investing in an IPO, igniting diverse viewpoints.
Sage_Planter contributed to the discourse, highlighting Reddit's inclusion on Robinhood's IPO Access list. This exclusive feature allows Robinhood users to evaluate the prospectus and potentially acquire Reddit IPO shares.
The uncertainty about Reddit's IPO performance, whether stable or unpredictable, lingers. Access to the prospectus through Robinhood adds an adventurous element, granting a specific set of investors the opportunity to delve into the offering.
As the countdown to the IPO progresses, the Reddit community and Robinhood users anxiously anticipate the unfolding of this financial milestone.
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