Reddit Shares Plunge 25% Just Days After IPO Amid Concerns Over Valuation and Lack of Profitability

Reddit shares have plunged nearly 25% in just 2 days following its IPO last week
The drop comes after a report called Reddit "grossly overvalued" and expects shares could fall 50%
Reddit has never turned a profit in its 20-year history, including losing $90.8M in 2023
Reddit's CEO awarded himself a $193M compensation package, more than Meta, Pinterest, and Snap's CEOs combined
Without a path to profitability, Reddit's rocky start on Wall Street is unsurprising given its history of financial instability