A literal meme strain may be coming soon.
Popular social sharing platform Reddit plans to go public later this year. report(opens in new tab) with information.
Back in late 2021, Reddit first made the move to file for an IPO at a valuation of $15 billion. However, Reddit’s desire to go public in 2022 has been put on hold due to a number of factors, including volatile markets, inflation, high interest rates and a slump in tech stocks in particular.
Reddit recap shows AITA as popular as ever
However, according to this latest report, Reddit is aiming to go public in late 2023, but at a much lower valuation. The company was recently valued at $6.6 billion by Fidelity.
It will be interesting to see what its users do when Reddit hits the stock market.of meme stock The 2021 trend started with Reddit’s subreddit r/WallStreetBets, encouraging members to invest in companies like GameStop and AMC. (And of course, some people(opens in new tab) I invested heavily in stocks based on what other social media users were buying. It did not work(opens in new tab) for the majority of people. )
The meme strain craze hasn’t ended in 2021…at least not on Reddit.For example, Reddit users were still upping stocks like Bed Bath & Beyond just last summer.
Will Redditors turn meme stock creation platform Reddit into meme stock itself? We’ll find out later this year.
