Two social media companies have floated on the stock market in in the past few days.
Reddit's long awaited IPO has taken place and shares have gone up in value. Truth Social has floated via a merger with DWAC and this has also been seen as an initial success. You can see their performance here:
https://www.google.com/finance/quote/RDDT:NYSE
https://www.google.com/finance/quote/DJT:NASDAQ
Both shares are potentially overpriced for very different reasons. Reddit has enormous traffic, but there's some scepticism about whether they know how to turn this into revenue. Truth Social does't have much of an income stream, but are investors hoping that Trump will funnel some money their way if he wins the presidential election?
By coincidence, both shares have been trading in a similar price range - RDDT shares were trading between $63 and $75 yesterday while DJT shares were trading between $57 and $80.
Which of these two shares will have the higher dollar price at the end of the final trading day of 2024?
1,000
3.00Reddit shares have maintained their value and are still trading above $60.
Meanwhile, Truth Social shares have tumbled and are currently trading below $13 a share.
Will this slide continue? Will they fall below $10?