Reddit’s Going Public & a Company Landed on the Moon 02/23/24

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 23 February 2024

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Reddit has filed for an IPO! The social media company plans to list on the New York Stock Exchange under the ticker RDDT, but Wall Street is asking questions about its business model–and its plans for advertising. Big Technology founder Alex Kantrowitz parses the S-1 filing and the company’s growth trajectory. Spot bitcoin ETFs are available to the masses, thanks to last month’s regulatory approval, and Grayscale CEO Michael Sonnenshein explains where he’s hoping to find his next set of returns. On Thursday, the markets rallied–the Dow Jones Industrial Average clocked its 13th record close so far in 2024, after Nvidia’s knockout quarter. Plus, it’s the first US lunar landing in 50 years, and it’s the first company moon landing ever. Alex Kantrowitz - 15:50 Michael Sonnenshein - 21:58 In this episode: Alex Kantrowitz, @Kantrowitz Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.
0:09.0	Reddit, the wild sort of judgey, frequently anonymous online community opens its books ahead of a Wall Street offering.
0:16.3	Tech watcher Alex Cantruitz says there may be work to do.
0:19.7	They don't have to use a growth.
0:20.9	They're losing money.
0:22.0	Where does this company actually have a
0:24.8	chance in the eyes of investors?
0:27.6	And Bitcoin to the masses. After regulators approved the currency's Spot E.T.F. Michael Son and Shine, head of crypto asset manager
0:34.8	Grayscale, has his eye on returns.
0:37.9	The question we're actually getting mostly from investors now
0:40.4	is, where else should they be investing, right right a lot of investors were able to
0:44.2	benefit from being in Bitcoin as early as they were because we were in Bitcoin
0:47.4	as early as we were. Plus a bad day to be an AT&T user, but a good day if you own Invidia.
0:54.5	I guess AI is really good.
0:56.8	And one big commercial step for mankind on the moon.
1:01.4	Houston, of the and at home.
1:04.7	It's Friday, February 23rd, Squack Pod begins right now.
1:08.7	Stand under by in three, two, 1, Q Andrew. Good morning and welcome to Squack Box right here on
1:16.8	CNBC.
1:17.8	We're live at the NASDAQ Market site in Times Square.
1:19.6	Manj Ross, working along with Joe Kern and Becky's off today.
	...

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