Reddit priced its initial public offering at $34 per share and began trading on the New York Stock Exchange under ticker RDDT on March 21, 2024. It opened at $47 and finished its first day nearly 48% above the IPO price, although contemporaneous reports differ slightly on the exact closing price.
Reddit’s IPO price, ticker and listing date
Reddit announced an offering price of $34 per share and said its Class A shares were expected to begin trading on the NYSE on March 21, 2024, under the ticker symbol RDDT. The company’s 2024 annual report filed with the SEC confirms that the shares began trading that day at the $34 offering price.
How RDDT traded on March 21, 2024
The Associated Press and Reuters reported that Reddit shares opened at $47. The AP reported an intraday high of $57.80 and a close of $50.44; Reuters also reported a $50.44 close. TechCrunch reported a slightly different closing price of $50.31.
| First-day measure | Reported figure | Source |
|---|---|---|
| IPO offering price | $34 per share | Reddit Investor Relations |
| Opening price | $47 per share | Associated Press and Reuters via Investing.com |
| Intraday high | $57.80 per share | Associated Press |
| Closing price | $50.44 per share | Associated Press and Reuters via Investing.com |
| Alternative closing price reported | $50.31 per share | TechCrunch |
What “nearly 48%” means
The description compares the first-day closing price with Reddit’s $34 IPO offering price—not with the opening price. Reuters described the close as a 48% gain from the offering price, and TechCrunch characterized its reported $50.31 close as nearly 48% above $34. Because the outlets reported slightly different closing prices, the rounded headline is more appropriate than implying a single exact percentage calculated from one universal closing figure.
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The AP quoted Reena Aggarwal, director of Georgetown University’s Psaros Center for Financial Markets and Policy, saying: “This volatility is not surprising because there has been a lot of buzz around Reddit.” That was her interpretation of the early trading volatility, not proof of a single cause for the gain.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the first-day move does—and does not—show
The figures describe one trading session on March 21, 2024. They are a historical snapshot, not a current RDDT quote, a forecast of later performance or a recommendation to buy or sell the stock. A strong first day alone does not establish how a newly listed company will perform over a longer period.
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