Reddit’s shares soar in stock market debut

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Reddit made its long-awaited stock market debut on Thursday, and it wasn’t long before interest in the nearly 20-year-old social media company began to surge.

At market close, the company’s share price settled at $50.44, nearly 50 percent higher than its IPO price of $34 per share.

Reddit, which has about 73 million unique daily visitors and trades under the ticker symbol “RDDT,” is known for being a place where users can get unfiltered advice, dish about their favorite television shows or hunt for the next buzzy meme stock. The site could change once shareholders start to have a say about how Reddit runs its business.

Here’s what you should know about Reddit — and what could come next for those who rely on it.

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