Reddit IPO could trigger spike in demand for sub-Reddit memecoins MOON and BRICK, data suggests
Key takeaways Reddit’s stock ends trading at $50.44 per share, up by 48% on its market debut. Sub-Reddit meme coins MOON and BRICK could rally higher on Reddit’s successful IPO. Reddit shares up by 48% on market debut Social media platform Reddit finally debuted on the New York Stock Exchange (NYSE). The company’s stock, with a ticker symbol RDDT, began trading on the NYSE on Thursday, March 21st. By the end of the trading day, RDDT was up by 48% as investors took the opportunity to buy the company’s shares. Reddit attracted investors despite the company not turning an annual profit since launching in 2005. However, the company promises investors that its content will be the training ground for artificial intelligence (AI) programs. The company also recently struck a data licensing deal with Google worth about $60 million a year. This move further convinced investors that Reddit could soon turn over its loss-making...