&#34;American retail investor stronghold&#34; Reddit priced its initial public offering (IPO) at the upper end of the target range, which may indicate that investors' enthusiasm for new listings is gradually warming up.Reddit is set to make its debut on the New York Stock Exchange under the stock code &#34;RDDT&#34; on Thursday local time, with individuals close to the matter revealing to the media that it is priced at $34 per share, raising the company's valuation to approximately $6.4 billion. While this valuation is at the upper end of Reddit's expected IPO, it is lower than its peak of $10 billion in 2021.The successful IPOs of Reddit and tech company Astera Labs - with Astera's stock price surging 72.31% in Wednesday's IPO - suggest that the IPO market, which has been struggling for over two years, may be turning around.Unusually, Reddit allocated most of its IPO shares to its most active users and reserved a portion for retail investors. According to insiders, the company set a relatively conservative price range, partly due to the consideration that loyal users will purchase shares at the IPO price.Analysts believe that while many Reddit users are cautious about the company's stock, whether they can substantially influence the stock price remains to be seen.In Reddit's famous WallStreetBets section and other subreddits focused on specific topics, many members have recently indicated plans to avoid buying Reddit stock, and may even bet on its decline by shorting the stock.Reddit's stock will be traded on the New York Stock Exchange, and while a strong pricing does not guarantee good stock performance, it is generally seen as a positive signal.During the stock issuance processes of Astera and Reddit, Morgan Stanley served as the main underwriter or advisor

RDDT

Reddit is set to go public on the New York Stock Exchange on Thursday local time, with a pricing of $34 per share, which would value the company at $6.4 billion, still below its peak of $10 billion in 2021

$6.4 billion valuation! "American retail investors' headquarters" Reddit priced at the upper end of the range