Reddit and its bankers are guiding that they could price the social media platform's initial public offering (IPO) at the top of the indicated range or above, according to a source familiar with the matter. The San Francisco, California-based company is seeking a valuation of $6.5 billion in the IPO and had indicated it would sell shares at a price between $31 and $34 each. If priced at the top end of that range, the IPO would fetch $748 million for Reddit and its selling shareholders.

Get your shorts ready, this will be very interesting to follow. Seems like the stock will appear tomorrow already?

I fully expect a nosedive in stock price but who knows. Maybe a pump and dump.

  • tsonfeir@lemm.eeEnglish
    12·
    8 months ago

    Which would be good considering they can’t make a profit. Although, I wonder how that makes them worth anything. The intricacies of legalized gambling and money laundering escapes me.