Overview

• Reddit's share price soared to $74.80 in morning trading, more than doubling its IPO price of $34.
• The launch of options trading is credited with boosting investor enthusiasm, leading to a significant increase in share price.
• Despite skepticism due to Reddit's history of losses and potential volatility, the stock's performance has been robust.
• Early investors and Redditors who received shares before the IPO have seen substantial returns, with notable gains for figures like OpenAI CEO Sam Altman.
• Analysts suggest Reddit's successful IPO could bode well for the tech sector, indicating strong market appetite for tech startups.