REDDIT platform, “Sofa investors” with which this year was accepted on the stock exchanges of the quotes of the so-called “meamatic” shares, decided to go on the stock exchange and submitted an application for an IPO. According to Reuters, according to the placement of the shares, it hopes to get an estimate of $ 15 billion.
Reddit has not yet defined the price range and the number of shares for sale. The timing of the IPO is also not called, it will depend on the time to complete the verification and market conditions. At the same time, during a recent round of investment, Reddit was estimated at $ 10 billion.
Interest in the Reddit social platform sharply increased after users on one of its WallStreetBets forums, whose participants (mainly retail investors) began to unite for overclocking stock market quotations. The excitement led to a sharp growth of some companies, such as GameStop video game stores and AMC Entertainment Holdings Cinema Networks.
So users decided to teach investors who played a decrease in shares. As a result of the company’s paper, over a few weeks, increased in price of more than ten times, and some funds had to close their short positions with billion losses.