Previous Close | 39.85 |
Open | 40.20 |
Bid | 0.00 x 2900 |
Ask | 0.00 x 1000 |
Day's Range | 39.75 - 40.34 |
52 Week Range | 27.07 - 41.39 |
Volume | |
Avg. Volume | 63,395 |
Net Assets | 178.67M |
NAV | 40.26 |
PE Ratio (TTM) | N/A |
Yield | 0.00% |
YTD Daily Total Return | 5.73% |
Beta (5Y Monthly) | 1.17 |
Expense Ratio (net) | 0.60% |
Inception Date | 2013-10-16 |
Reddit is gearing up to launch its IPO next week, eyeing a valuation of around $6 billion. While some are excited, others point to the fact that the social media site isn't profitable, posting net losses of $90 million in 2023. Crunchbase News Senior Data Editor Gené Teare joins Yahoo Finance to discuss Reddit's upcoming IPO and what makes the platform unique in the social media sector. Teare lays out what the current sentiment for the stock is: "I think the signals here are very mixed. I think some people feel like this is a little rich as a valuation. They're targeting I think on the upper end of about $6.4 billion, and that has us saying, if this is a company that can still grow 18 years in then it might not be so rich...Its revenues around $804 million last year and it did grow that 21%. So if it can keep growing its revenues then there is potential in the stock, but I think a lot of that revenue growth is more recent. So I think there's a lot of doubt around whether this is a little rich." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
The IPO market could be ready for a big year in 2024 after a dismal 2023, with companies like Reddit, Skims, and Shein expected to go public. Renaissance Capital Senior Strategist Matthew Kennedy joins Yahoo Finance to comment on the expectations for Reddit and Shein public listings, and the overall optimism for IPOs in 2024. "These past few years have built up a bottleneck of companies, that pipeline of IPOs has grown and grown. More companies want to go public. We've seen IPO filings reflect that," Kennedy says. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
September is already looking like an eventful month for initial public offerings. While Arm IPO already became successful, Instacart's scheduled entry may also turn out to be strong.