Reddit Stock Soars as Options Trading Ignites Investor Frenzy

Bullish bets on options trading have propelled Reddit's shares to new heights following its successful IPO last week.

Reddit's stock price surged 30% on Monday, reaching $59.80, after a strong debut on the NYSE last Thursday.
The introduction of options trading on Reddit has attracted significant bullish sentiment, with tens of thousands of contracts changing hands.
Analysts attribute the stock's rally to speculative buying of call options, anticipating further price increases.
Despite having no annual profit since its 2005 launch, Reddit's IPO and subsequent options trading have generated considerable market excitement.
The company's unique approach of offering IPO shares to moderators and users has highlighted its community-driven model.