Reddit AI involvement helps boost share price

[Daniel Puchert]

Reddit share price jumps 48% after listing

Reddit Inc. shares soared 48% above their initial public offering price, as investors embraced the social media company's vision of profiting from the growth of artificial intelligence (AI).

The San Francisco-based company's stock closed at $50.44 each on Thursday in New York, a day after the company and some of its shareholders raised $748 million in an offering priced at the top of a marketed range.

 

[hj007]

US Stock exchanges are something else, imagine if this tried to list on the JSE. Just amazing how businesses can raise equity on losses in order to fund growth, while in SA it's always only mature profitable companies that can list (exceptions are few).

 

[Sapphiron]

US Stock exchanges are something else, imagine if this tried to list on the JSE. Just amazing how businesses can raise equity on losses in order to fund growth, while in SA it's always only mature profitable companies that can list (exceptions are few).

More venture capital than brains.

Or rather, the people running the casino keeps finding more suckers.

 

[hj007]

More venture capital than brains.

Or rather, the people running the casino keeps finding more suckers.

I guess the markets and capital are so deep there, that if even a fraction of speculators take part it's bigger than the whole JSE.