Reddit shares opened up about 38 percent on Thursday in their first day of trading, in a sign of investor eagerness that set the stage for more tech companies to reach the stock market this year.
Archive link: Reddit Opens Up 38%, as Shares Begin Trading
This wasn’t a great first day performance. Sure there was an initial bid up, but that dropped off quickly. We need to see strong buying resistance on a drop (showing institutional buying) to keep the vultures from circling. (Not financial advice)