Online broker eToro has issued an update to traders regarding the upcoming Reddit initial public offering (IPO).
$RDDT is a vast network of communities where people can dive into their interests, hobbies, and passions. From thought-provoking discussions to the latest trends and memes, Reddit has something for everyone. With millions of active users worldwide, it is a platform where content is king and the community’s voice shapes the narrative.
Availability will initially be only for BUY direction with no leverage.
There are several things that need to be in place before eToro can make this stock available for investing:
- The stock has to be listed on the exchange after the Initial Public Offering. Typically, the availability of stocks for investing after an IPO does not begin at the opening bell, only later in the “trading” session.
- The liquidity providers will need to have sufficient liquidity of the stock in order to allow eToro to open the asset for traders. Until then, you can add it to your watchlist.
Bearing the above in mind, along with a combination of very high demand here at eToro, it may take up to a few hours to access on the eToro platform after the expected IPO.
$RDDT should be open for trading tomorrow, March 21st, once conditions allow it. Initial price offered on eToro may differ from the IPO price.
