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By Julianna
Reddit, the home of WallStreetBets, announced on Wednesday that it has confidentially submitted a draft registration statement with the SEC to go public.
The San Francisco-based company did not determine the number of shares to be offered and the price range for the proposed offering. The listing is expected to occur after the U.S. SEC completes its review process, subject to market and other conditions.
Reddit was valued at $10 billion by investors in a funding round this summer, didn't disclose what valuation it would seek in the IPO.­­
--- according to Bloomberg, 'Reddit is raising funding at a $10 billion value' published in this August.
At the time of that funding round, the company said that it had reached $100 million in advertising revenue during the second quarter of 2021, up 192% from a year prior.
Learn more about the company profile and details about the IPO: Reddit confidentially filed for IPO and seek $15 bln valuation
2021 Meme Stock Frenzy
Reddit saw a surge of interest this year after a forum on the site, WallStreetBets, jolted the stock market. The WSB community currently have 11.3 million members (they usually call themselves 'retards', 'degenerates', 'apes'). The trading frenzy, driven largely by post on the site, whipsawed the prices of $GameStop (GME.US)$, $AMC Entertainment (AMC.US)$, and silver. The result was a rewriting of the previously understood rules of Wall Street trading.
Want to know what WSB is disscusing today? Check out: WallStreetBets top 10 ticker sentiment 12/16: TSLA, AAPL, NVDA and more
2021 Top 3 Most Popular Post on WSB
Top 1: Times Square right now- 445k in votes, 13.2k in comments
Top 2: We got SUPPORT- 323k in votes, 12.9k in comments
Top 3: GME YOLO- 287kin votes, 23.5k in comments (YOLO*: "you can only live once")
Comments from WSB degenerates about the IPO
*Karma: rewards points that users could gain after thier posts or comments get upvoted.
What do you think about Reddit's IPO? Would you invest in the company?
Source: Reddit, PR Newswires, Bloomberg

The stock market seemed to be moving back into rally mode following Friday's pullback amid the emergence of the Omicron variant of Covid-19. 
When investors are considering whether they should sell all of their position to avoid a huge correction, suddenly, the major indices just went all the way up and close to their all-time high. 
After the stock market opened Monday, the $Dow Jones Industrial Average (.DJI.US)$ rallied 0.35%, while the $S&P 500 Index (.SPX.US)$ moved up 1%. The tech-heavy $Nasdaq Composite Index (.IXIC.US)$ climbed 1.6%.
$Apple (AAPL.US)$ traded up over 2% in Monday's morning action, while $Microsoft (MSFT.US)$ moved up 1.9% , $Tesla (TSLA.US)$ rallied over 5%. $Rivian Automotive (RIVN.US)$ rose about 3.5%, while $Lucid Group (LCID.US)$ gained 1.8%. Chinese EV leader $Li Auto (LI.US)$ bolted higher after delivering earnings, while $XPeng (XPEV.US)$ raced over 4% higher.
So the dip was like a prank. It hurt investors' feeling and soon vanished in the air without any clue.
 
Source:
Dow Jones Rallies After Stock Market Rout; Vaccine Maker Moderna, Tesla Rival Surge

Hop into the time machine
There's a saying that goes: "The present you is made up by all the decisions you've made in the past." 
In that case, would you like to look back on all mooers' votes before and find out what "made you" or led to your paper gain/loss now?
On Aug. 5, Daily Poll asked about "What's the future of automakers?" 
What's the future of automakers? Click to see>>
63% of mooers chose "New brands like Tesla"
Only 15% of mooers chose "Traditional brands like GM"
22% of mooers chose "I'm so broke" (WTF lol )
On Aug. 30, Rivian filed for its upcoming IPO. Daily Poll asked about "How do you feel about the new competitor?" 
Rivian, the EV maker backed by Amazon and Ford has filed for its IPO. Click to see>>
11% of mooers chose "a threat to other EV makers."
12% of mooers chose "nah, bye bye soon."
77% of mooers chose "strong background, keep watching." 
Let's take a look at their one year performance:
$Tesla (TSLA.US)$
$Rivian Automotive (RIVN.US)$
$Lucid Group (LCID.US)$
New EV brands do deliver strong growth on their stock price.
 
However, traditional brands are doing great as well. 
$Ford Motor (F.US)$
$General Motors (GM.US)$
Even though they were doing well and also showed an upward trend in stock price.
The EV battlefield: Oldest automakers are on fire. Click to see>>
Still, only 13% of mooers think GM and F will win the battle 10 years later.
63% of the mooers were convinced that TSLA is the G.O.A.T. 
And here come the questions: 
Do you think you were right then?
Or what made you change your mind?
You May Aalso Like:
Daily Poll: Battery issue drains Rivian stock.
Daily Poll: The "EV Big Three."