Reddit's IPO shares surge, reaching $68.88 on Tuesday

Summary: Reddit's IPO on March 21, 2024, set share price at $47. Shares surged 15% to $68.88 on Tuesday, following a 30% increase on Monday. New Street Research issued a neutral rating, maintaining a $54 price target. Reddit raised $750 million in its IPO. OpenAI data licensing deal potential boosts investor confidence. FTC inquiry into data licensing business raises concerns. Reddit users and employees profit post-IPO.

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