Trends - Reddit - Business Recorder

Reddit may need to ramp up spending on content moderation, analysts say

BENGALURU: Reddit will need to spend heavily on content moderation as it prepares for greater scrutiny as a public...

Published 28 Mar, 2024 06:30am

Technology

Social media company Reddit surges after NYSE debut

NEW YORK: Shares of social media company Reddit soared nearly 50 percent on the New York Stock Exchange Thursday in...

Published 22 Mar, 2024 03:30pm

Technology

Reddit says it has filed with SEC to go public

NEW YORK: Social media platform Reddit said Wednesday it has confidentially submitted a draft registration with the...

Published 16 Dec, 2021 11:36am

Technology

Fastly blames software bug for major global internet outage

Company was behind major global internet outage this week

Published 09 Jun, 2021 12:47pm

Media, govt websites coming back online after global outage

PARIS: Thousands of government, news and social media websites across the globe were coming back online on Tuesday...

Published 09 Jun, 2021 03:29am

Business & Finance

GameStop says CEO Sherman to resign; starts search for successor

The latest development comes as Ryan Cohen, co-founder and former chief executive of online pet food company Chewy Inc , tries to tighten his grip on GameStop after joining its board in January.
GameStop has been in the process of transforming itself into an e-commerce firm that can compete with large-scale retailers such as Walmart Inc, as well as technology companies Microsoft Corp and Sony Corp.

Published 19 Apr, 2021 04:37pm

Technology

Influenced by Clubhouse, Facebook experiments with audio

SAN FRANCISCO: Facebook on Wednesday launched an experimental online forum called Hotline, an attempt by the social...

Updated 12 Apr, 2021 09:15am

Business & Finance

GameStop plans to elect activist investor Cohen as chairman

The company also said on Thursday it was nominating six people, including Cohen, to stand for election to its board at the annual meeting of stockholders on June 9.
The announcement comes after GameStop on Monday increased the value of the new stock it may sell to $1 billion from $100 million, as it seeks to capitalize on a surge in its shares from the Reddit-driven rally.

Published 08 Apr, 2021 06:50pm

Business & Finance

Reddit forums get behind Roblox ahead of stock launch

The company's stock was indicated to open between $60 and $65 per share, far above the reference price of $45 set by the New York Stock Exchange on Tuesday.
At the top end of the indicative range, Roblox would have a market value of around $36 billion.

Updated 11 Mar, 2021 12:48am

Business & Finance

Reddit hires former Snap exec Drew Vollero as first CFO

"Going public one day is something we think about but we do not have specific plans and a timetable," a spokeswoman told Reuters.
Reddit on Friday also disclosed a 90% surge in advertising revenue during the fourth quarter, while daily active users jumped to more than 52 million.

Published 05 Mar, 2021 08:55pm

Markets

TSX down as Reddit-fueled rally in cannabis stocks fizzles

Healthcare sector fell 9.3% with cannabis stocks leading the fall.
Toronto Stock Exchange's S&P/TSX composite index was down 22.02 points, or 0.12%, at 18,435.76.

Published 11 Feb, 2021 08:55pm

Business & Finance

How GameStop missed out on capitalizing on the Reddit rally

The Grapevine, Texas-based company found itself at the epicenter of an unprecedented trading frenzy last month.
GameStop's market value soared from $1.4 billion on Jan. 11 to a peak of $33.7 billion on Jan. 28.

Published 11 Feb, 2021 08:48pm

Markets

Betting on Biden? Reddit fuels fresh surge in cannabis stocks

US-listed Tilray, Sundial highly touted on Reddit.
Reddit-fuelled trading had squeezed GameStop 'shorts'.
European retail traders pile into US-led trading rally.
Harris flagged Biden push to decriminalise marijuana.

Published 11 Feb, 2021 07:39pm

Business & Finance

Ads, GameStop raise Reddit price tag to $6bn in latest fundraising

Reddit was valued at $3 billion in its last round in February 2019, and the surge in its value follows a 90% jump in advertising revenue from a year ago.
We decided that now was the right opportunity to make strategic investments in Reddit including video, advertising, consumer products, and expanding into international markets.

Updated 09 Feb, 2021 10:02pm

Technology

Reddit to double its workforce after raising $250M

Reddit to grow its workforce by 100% over the course of this year after raising $250 million in a new funding round.

Updated 09 Feb, 2021 04:58pm

Technology

Just after GameStop frenzy, Reddit raises over $250mn in funding

“We have raised more than $250 million in Series E funding from existing and new investors. We decided that now was the right opportunity to make strategic investments in Reddit including video, advertising, consumer products, and expanding into international markets,” the company announced in a blog post.

Published 09 Feb, 2021 12:16pm

Business & Finance

Nokia's Revenues Drop due to Share Loss in 2021

Nokia witnesses a drop in its revenues as the company experiences share loss and falling product prices in 2021.

Updated 04 Feb, 2021 03:35pm

Business & Finance

Reddit is coming for silver. A short squeeze? Unlikely

Spot silver vaulted as high as $30.03 an ounce on Monday from $25 on Thursday morning.
An early post, which quickly spread across social media, encouraged buying of iShares Silver Trust, an exchange traded fund (ETF) whose shares represent ounces of silver sitting in vaults.

Published 01 Feb, 2021 08:49pm

Business & Finance

A tulip by another name? 'Gamestonk' and the case for investor caution

Now, almost exactly 385 years and another pandemic later, Wall Street waits to see how long it will take for history to repeat itself.
The stock price rally to above $300 per share has emboldened some small investors to pour even more money into a company.

Published 30 Jan, 2021 05:12pm

Business & Finance

Robinhood and Reddit protected from lawsuits by user agreement, Congress

The owners of internet platforms where much of the discussion took place are likewise shielded from liability for users' activity under a 25-year-old law known as Section 230.
The lawsuits, brought in federal court, allege that the Menlo Park, California-based company breached its contractual obligation as a regulated broker to execute orders promptly and effectively.

Published 30 Jan, 2021 04:56pm

Business & Finance

Silver Lake cashes out on AMC for $713 million after Reddit-fueled rally

Silver Lake was able to convert the bonds into shares thanks to the rally pushing AMC’s stock above the bonds’ conversion price this week.

Published 30 Jan, 2021 10:22am

Business & Finance

Reddit to buy TikTok rival Dubsmash

The financial terms of the deal were not disclosed, but a spokeswoman for Reddit said the acquisition was based on a combination of cash and stock.

Published 14 Dec, 2020 08:39pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 23	278.40
USD PKR Interbank Buying / Apr 23	278.10
USD to Japanese Yen / Apr 23	154.85
USD to Swiss Franc / Apr 23	0.91
Pound Sterling to USD / Apr 23	1.24
Euro to USD / Apr 23	1.07

Stock	Volume
S&P 500 / Apr 22	5010.60
Nasdaq / Apr 22	15451.31
Dow Jones / Apr 22	38239.98
India Sensex / Apr 23	73884.02
Tokyo Nikkei / Apr 23	37552.16
Hang Seng / Apr 23	16828.93
FTSE 100 / Apr 23	8045.70
Germany DAX 30 / Apr 23	17967.18

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 19	21035
Gold 10 Grams PKR / Apr 22	213220
Crude Oil USD/Barrel / Apr 23	82.41
Gold Spot USD/Ounce / Apr 23	2301.86
Cotton US¢/pound / Apr 23	82.37
Petrol/Litre / Apr 24	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 24 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 24 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 24 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 24 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 24 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 24 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 24 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 24 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 24 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 24 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 24 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 24 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 24 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 24 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 24 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 24 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 24 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 24 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 24 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 24 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 24 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 24 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 24 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 24 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 24 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 24 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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