Summary
TLDR: Reddit made its public debut with shares trading at $47, valuing the company at $6.5 billion. The company has a history with cryptocurrencies, holding bitcoin, ether, and MATIC. The native token for r/Cryptocurrency, MOON, saw a 7% increase, trading at $0.44. Reddit also announced support for Moons on Celer and dropped Polygon-based NFTs. Last October, Reddit sunsetted the Community Points beta program due to regulatory and scalability issues.
Key Points
1. Reddit made its public debut Thursday.
2. The pricing puts the valuation of the company at around $6.5 billion. The stock trades under the ticker RDDT.
3. Reddit has a storied history with cryptocurrencies including its iconic subreddits from r/Cryptocurrency to r/Bitcoin, which are both ranked within the top 100 subreddits.