Posted 3/22/2024, 2:12:15 PM
Reddit Stock Tempers After 48% IPO Pop As Investors Cautious on Volatility, Path to Profits
- Reddit stock trades slightly down on second day after jumping 48% in IPO debut
- Investors remain cautious due to lack of lockup period, concerned about volatility
- Reddit positions itself as an AI play to tap into growth in that sector
- Recent IPO pops from Reddit and Astera Labs show investor excitement, but unclear if a trend
- Questions remain whether Reddit has a clear monetization plan to reach profitability after 20 years