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• Tim Baysinger
  , author of
  Axios Pro: Media Deals

Updated 3 hours ago -Business

Reddit shares soar in NYSE debut

Illustration: Brendan Lynch/Axios

Reddit shares soared in the company's stock market debut on Thursday, opening at $47 per share a day after its IPO raised $748 million.

Why it matters: The listing is the first social media IPO in nearly five years and its a high profile offering whose trading performance could set the tone for future tech and media deals.

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