Should You Buy the Biggest IPO in Years?
The splashiest IPO in a long time hit the market at 1:15 this afternoon. Reddit (RDDT) had a successful debut, with the stock closing at $47.80 – 40.6% above the IPO price of $34. There’s no denying the excitement of an initial public offering, especially a well-known company like Reddit. There’s a certain mystique about them, and the early price moves can be alluring. Unfortunately, they are rarely get-rich-quick investments.
