U.S. Treasury Secretary Janet Yellen is calling a meeting of top financial regulators this week to discuss market volatility driven by retail trading in shares of GameStop Corp, silver and other stocks favored on social media.
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
GameStop Shares Surge Again in Premarket Trading .
On Feb. 25, the stock climbed over 70%
before markets opened.
This climb is on top of the additional 103.9% increase the stock saw by market close..
Credit: Wibbitz Top Stories Duration: 00:53Published
U.S. Treasury Secretary Janey Yellen has summoned the regulatory troops in Washington to discuss the goings on involving GameStop, Reddit and the ensuing frenzy.
Congressional attention to recent market volatility would be appropriate, White House spokeswoman Jen Psaki told reporters at on Monday, saying last week's trading frenzy involving GameStop Corp and..
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