Reddit ipo upsude leverage record market rally after fed rate decision 

Reddit Prices IPO at $34 a Share, Valuing It at $6.4 Billion

Reddit, the popular news aggregation social media site, priced its initial public offering at $34 a share late Wednesday, at the high end of its expected range of between $31 and $34 a share.At that price, Reddit would be valued at $6.4 billion, according to the report. Reddit is raising $519.4 million from the sale of nearly 15.3 million shares. Other Reddit investors are selling an additional 6.7 million shares through the IPO.Investors hope Reddit's IPO could spark a rebound for new stock offerings after down years in 2022 and 2023. Following a record-setting year in 2021 when nearly 400 companies went public in the U.S. and raised $142.4 billion, issuance slowed to 179 companies generating a combined $27.1 billion in the past two years, according to Renaissance Capital.Reddit's IPO comes one day after another unicorn, artificial intelligence infrastructure provider Astera Labs, debuted with a 72% gain in its shares.
Reddit Prices IPO at $34 a Share, Valuing It at $6.4 Billion
# Reddit IPO

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