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Bloomberg Businessweek
Reddit IPO Prices at Top of Range to Raise $748 Million
Mar 21, 2024
The podcast discusses the US Justice Department suing Apple for antitrust violations, Reddit's successful IPO raising $748 million, digital banking trends with a CEO, and market analysis on Reddit shares and economic indicators.
38:28
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Quick takeaways
- Reddit IPO priced at the top of the range with $748 million raised, indicating strong investor interest in social media companies.
- Investors advised to focus on low-leverage, high-return companies amidst potential economic shifts and market frothiness.
Deep dives
Signs of Softness in the Labor Market and Credit Market
There are indications of softness in the labor market, with employment growth varying across different states. The divergence between household employment and new jobs added numbers is a concern, suggesting potential future issues. Credit card delinquencies are rising, auto loan rates for lower credit tiers are high, and dislocations in the CLO market are emerging.
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