Reddit shares soar on first day of public trading
Company stock price climbed nearly 70% from its IPO, with Condé Nast’s parent company standing to make nearly $1.4bn Reddit shares opened 38% above initial offer prices in the company’s trading debut on Thursday, valuing the social media platform at $8.87bn in a closely watched opening. The stock peaked at $57.80 a share, up 70%,…