Social Media giant Reddit (RDDT) is set to make its Initial Public Offering (IPO) on the New York Stock Exchange on Thursday. The company is pricing its IPO stock price at around $34 per share. Many on Wall Street patiently await the listing in real-time as the stock's initial performance could be a signal of good things to come for various sectors.
UF Cordell Finance Professor and IPO Expert Jay Ritter joins Yahoo Finance to discuss Reddit's IPO on the NYSE and what it could mean for the IPO market moving forward.
Ritter elaborates on what could really be make or break for what's to come in the IPO market: "Fintech companies, Chime and Plaid... Rubrik, a cyber security company, are among those that are reported to be planning on doing an IPO this year. Given that the stock market is hitting record highs again today and the positive reception to these IPOs, I think we're going to see a continuing strong recovery of the IPO market this year."
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
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UF Cordell Finance Professor and IPO Expert Jay Ritter joins Yahoo Finance to discuss Reddit's IPO on the NYSE and what it could mean for the IPO market moving forward.
Ritter elaborates on what could really be make or break for what's to come in the IPO market: "Fintech companies, Chime and Plaid... Rubrik, a cyber security company, are among those that are reported to be planning on doing an IPO this year. Given that the stock market is hitting record highs again today and the positive reception to these IPOs, I think we're going to see a continuing strong recovery of the IPO market this year."
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
