GameStop stock surge: Are Wall Street wolves getting a taste of their own medicine?
Video Credit: Euronews English - Duration: 10:34s - Published
GameStop stock surge: Are Wall Street wolves getting a taste of their own medicine?
GameStop has become the focus of Wall Street since its stock price surged by more than a thousand percentage points in recent weeks thanks to amateur traders on Reddit.
Reddit Prices Shares , at $34 in IPO.
Reddit will go public on March 21 and has priced
its IPO at $34 a share, Yahoo Finance reports.
That is about a $6.4 billion valuation.
A social media company hasn't gone
public since Pinterest in 2019.
Reddit gained increased recognition
amid the meme stock craze of 2021.
Reddit had 500 million site visitors in 2023.
Its revenue increased 20%
from 2022 to $804 million.
According to an S-1 filing, Reddit said that its "content is particularly important" for the world of artificial intelligence.
We are exploring business
opportunities in licensing data
for purposes including machine
learning, business analysis, display
and training generative AI models, Reddit, via S-1 filing.
1.76 million shares have been set aside for eligible Reddit users and moderators. .
Headline venture partner Kamran Ansar
said the decision lends itself to volatility. .
You may see a big run up in
the stock price and a drop, Headline venture partner Kamran Ansar, via statement.
Because this has such a rabid
community around it, the Reddit
users, you could see Reddit itself
ironically become a meme stock
the way that you saw happen
with like AMC and GameStop, Headline venture partner Kamran Ansar, via statement
Credit: Wibbitz Top Stories Duration: 01:30Published
Democratic Sen. Elizabeth Warren tells CNNâs Dana Bash sheâs âlooking forward toâ getting to the bottom of what happened on Wall Street last week.
The frenzied rise of GameStopâs share price baffled Wall Street and panicked the US Treasury. What does the GameStop story reveal about American stockmarkets? Our experts answer your..