Reddit investors shrug off hold rating, bid up stock another 9% as post-IPO rally continues
Publishing timestamp: 2024-03-26 17:55:18
Summary
Reddit shares rose almost 9% on Tuesday, up 92% since IPO. Analysts issued neutral rating but rally continued. Investors expect volatility into first earnings report. Reddit's market cap has swelled to $12.3 billion. Insiders are forbidden from selling shares until post-IPO lockup period expires. Federal Trade Commission is conducting inquiry into Reddit's data licensing business. Some Reddit users discussed stock rally on company's subreddits.
Sentiment: MIXED
Keywords: pinterest inc, business news, internet, mobile, reddit inc, breaking news: technology, social media, alphabet inc, technology,
Source: https://www.cnbc.com/2024/03/26/reddit-stock-jumps-15percent-as-post-ipo-rally-continues.html