It’s not just about Reddit’s shares soaring 42% on Wednesday after posting strong third-quarter earnings.
We took a look at the biggest US IPOs (anything above $500 million) of 2024, and Reddit leads the pack with a staggering return of over 240% since going public. 🚀
Now, about those earnings. Reddit’s numbers feel like a high-five to investors. Its revenue jumped 68% and it reported a profit for the first time ever. Plus, daily active users surged 47% to 97.2 million.
With its shares blowing past all analyst estimates in just one trading session, Reddit might just be getting started.
