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Reddit Shares Soar in Long-Awaited IPO

·1 min

Shares of a well-known social-media company surged by 48% in its stock-market debut on Thursday, providing encouragement for other companies looking to go public. The company’s stock closed at $50.44 on its first day of trading, resulting in a valuation of approximately $9.5 billion. The company is recognized for its diverse message boards and interactive town halls.