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Reddit sees boom in stock after first day of options launch
Reddit has enjoyed a jump in the price of its shares today (26 March) in the continuation of a strong launch of options on the stock.
Jeremy Goldman, a senior director of client briefings at Emarketer, formerly Insider Intelligence, spoke on the early trading and returns on the new stock. The options launch enticed significant bets on the stock on Monday, closing up around 30% and crowning Reddit as the top percentage gainer on the NYSE. If the current trajectory remains, the company is well-poised to smash through its $6.4b target and also the $10 billion valuation Reddit received in a 2021 private fundraising round.
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