Reddit, which priced its IPO at $34 a share, debuted Thursday afternoon at $47 a share. At the close of trading, it was up 48% at $50.44, backing off a peak of $57.80.
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Reddit is offering approximately 15.3 million shares, while the selling stockholders are offering about 6.7 million shares.
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Instacart on Monday priced its initial public offering of stock at $30 a share, raising $660 million for the grocery delivery company.
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SAS just hosted one of its big annual events – this one in large part focusing on artificial intelligence – in Las Vegas. But the global software firm based in Cary has plenty of other business going on internally. Let’s take a look.
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A slowdown in global initial public offerings continued in the first quarter of 2023 and is likely to endure in the coming months, as companies wait out the effects of volatile stock markets, higher interest rates and inflation, and uncertainty around the banking crisis.
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The market for initial public offerings, as well as for SPACs — companies debuting through mergers with blank-check special purpose acquisition companies — often dries up in the summer. But there has been an even more pronounced dearth of IPOs this year due to the volatility in the broader market.
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SAS continues to drive toward IPO readiness, an executive said during a virtual briefing. The company also highlighted growth of its SAS cloud business.
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Reddit announced Wednesday that it has confidentially filed paperwork in its first big step toward an initial public offering, making it the latest tech firm to consider a Wall Street debut.
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Rivian, the electric vehicle maker backed by Amazon and Ford, is making its Wall Street debut on Wednesday, surrounded by mania that befits a market that appears to be defying gravity.
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