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Reddit stock slated to start trading on NYSE (www.npr.org)

submitted 1 year ago by pelespirit@sh.itjust.works to c/usa@lemmy.ml

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Investors have upvoted Reddit in droves.

Reddit stock is slated to start trading on the New York Stock Exchange Thursday after the IPO priced at $34 a share — at the top of its expected initial price range — as investors showed enthusiasm for a social media company that has ambitious expansion plans but has never been profitable.

Valued at around $6.4 billion, Reddit is trading under the ticker symbol RDDT. The IPO is being viewed as a test of investor appetite for a social media company in an era where artificial intelligence is all the rage in the technology industry.

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[–] silence7@slrpnk.net 3 points 1 year ago* (last edited 1 year ago)

They're a spam bot, generating identical comments from multiple accounts on different servers to disrupt the platform as a whole. Problem is that lemmy has terrible moderation tools for handling this problem.