Social media platform is setting the stage for other companies looking to go public
) geared up for its high-profile market debut on the New York Stock Exchange on Thursday, setting the stage for other companies looking to go public this year, while testing investor appetite for new issues.
The eyeball-grabbing debut will be a major test of the IPO market, where investors are seeing some green shoots, thanks to increasing bets of a soft landing. But the move is fraught with risks, analysts say. Typically shut out of bidding in an IPO, retail traders eager to gain exposure to a newly listed company buy shares only when they start trading, which could lead to a first-day pop.
Its 100,000 online forums, dubbed “subreddits”, allow conversations on topics ranging from “the sublime to the ridiculous, the trivial to the existential, the comic to the serious,” according to co-founder and CEO Steve Huffman. “We don’t get many large tech IPOs. Those tend to be very popular because it’s hard to buy that kind of growth,” White said.
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