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WEKU
WEKU
Bobby Allyn

Reddit stock starts trading 38% above initial public offering price

Reddit mascot Snoo rings the New York Stock Exchange opening bell, prior to the company's IPO, Thursday, March. 21, 2024. (Yuki Iwamura/AP)

Investors have upvoted Reddit in droves.

Reddit stock began trading on the New York Stock Exchange Thursday after the initial public offering priced at $47 a share — topping its offering price of $34 for each share — as investors showed enthusiasm for a social media site that has ambitious expansion plans but has never been profitable.

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