Reddit Stock Gains Another 10% After Soaring 30% Yesterday
Tiger Newspress03-26
Reddit shares gained another 10.1% in morning trading Tuesday after soaring 30% on Monday.
The launch of options on Reddit on Monday drew a flurry of bullish bets that some analysts said helped boost the social media platform's stock after last week's strong market debut.
Reddit shares soared 48% on the New York Stock Exchange as the company went public on Thursday, despite posting no annual profit since its launch in 2005.
Reddit was the top percentage gainer on the New York Stock Exchange on Monday, finishing up 30% at $59.80.
Some 90,000 Reddit options changed hands, with trades leaning toward bullish bets, analysts said.
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