Social media giant Reddit is poised to make its IPO on the New York Stock Exchange on Thursday under the ticker RDDT. The price of the stock will most likely trade around $34 per share. Thomvest Ventures Managing Director Don Butler joins Yahoo Finance to discuss Reddit's potential to outperform expectations and change the previous narrative of the IPO market.
Reddit's status and recent AI plays may boost the way investors view the stock, Butler says: "I think with Reddit in particular, you've got sort of this combination of both a well-known consumer brand, the first sort of public offering in several years of one of the, in effect, sort of a social network. And on top of that, you have data revenues coming in from AI, so I think AI licensing. What you're going to see is investors who see this as a way to buy into the next wave of generative AI, aside from the means that they have had thus far. "
#youtube #REDDIT #stockmarket
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