The tech stock went public at $34 and jumped 48% in its first day of trading.
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The company has booked several billion dollars in paper gains since the IPO.
Reddit mascot Snoo ringing the opening bell on the morning of the company’s IPO in March 2024.Timothy A. Clary/AFP via Getty Images
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Reddit has about 73 million daily users spread across about 100,000 subreddits.
The communities on Reddit itself have an outsized voice in the perception of the companys prospects.
The WallStreetBets subreddit played a key role in boosting the shares of GameStop and AMC Entertainment during the pandemic.
