Reddit shares jumped as much as 70% in their debut on Thursday in the first initial public offering for a major social media company since Pinterest hit the market in 2019. The 19-year-old website that hosts millions of online forums priced its IPO on Wednesday at $34 a share, the top of the expected range. … Read more
In this photo illustration a Reddit logo is seen displayed on a smartphone. Mateusz Slodkowski | Sopa Images | Lightrocket | Getty Images Reddit, the 19-year-old website that hosts millions of online forums, priced its IPO on Wednesday at $34 a share, the top of the expected range. The offering brought in $519 million, according … Read more
Workers at a restaurant at Grand Central Market in Los Angeles, California, US, on Thursday, Nov. 2, 2023. Eric Thayer | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
Customers shop at a supermarket in Foster City, California, the United States, Sept. 13, 2023. Xinhua News Agency | Xinhua News Agency | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
Rivian CEO RJ Scaringe reacts at an event to unveil a smaller R2 SUV in Laguna Beach, California, U.S., March 7, 2024. Mike Blake | Reuters Shares of Rivian Automotive surged 13% on Thursday as the EV maker unveiled three new vehicles and announced more than $2 billion in savings related to pausing construction on … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) on the first trading day of 2024 on January 02, 2024 in New York City. Spencer Platt | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything … Read more
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland | CNBC Shares of Rivian Automotive declined 10% on Tuesday after the company reported increased vehicle production during the fourth quarter but fewer deliveries than the previous period. The company said it delivered 13,972 vehicles … Read more
DETROIT — General Motors’ plans to diversify its business through trendy industries such as ridesharing and other “mobility” ventures or startups have largely fallen flat since the automaker started investing in such growth areas in 2016. Cruise, its majority-owned autonomous vehicle subsidiary, is increasingly looking like it might be next. The unit has quickly gone … Read more
Tesla CEO Elon Musk took the stage to reveal details about the company’s new and unconventional Cybertruck pickup on Thursday in Austin, Texas, one day after he appeared in a bizarre interview at the DealBook Summit in New York. At that earlier event, Musk boasted, “It will be the biggest product launch of anything by … Read more
Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California. Justin Sullivan | Getty Images Rivian on Monday started leasing select models of its all-electric R1T pickup truck, a move to expand sales and customer base beyond early adopters of electric vehicles. … Read more