Reddit Options Draw Bullish Bets as Stock Extends Gains
Monday, 25 March 2024, 17:41
Reddit Options Rally Attracts Bulls as Shares Surge
Options on Reddit drew a flurry of bullish bets on Monday as the social media platform's stock rallied as much as 16% after last week's strong market debut.
Reddit shares soared 48% on the New York Stock Exchange as the company went public on Thursday, despite posting no annual profit since its launch in 2005.
On Monday, Reddit was among the top gainers on the New York Stock Exchange, with the stock last up 15% at $53.01 in early afternoon trading.
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