Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action news and analysis.

Good afternoon, today is Wednesday, February 21st, and I'm your host, Kim Khan.

Our top story so far.

Reddit plans to sell some of its stock to loyal users when it has its initial public

offering next month. The company will reserve an as yet

undetermined number of shares for 75,000 of its most prolific creditors according to the

Wall Street Journal. The Reddit users will be able to purchase the shares of the IPO price before the stock starts trading.

The company intends to make its public filing in late February, introduce its road show in early March, and complete its IPO by the end of March.

In December, Reddit said it had confidentially filed with the U.S. regulators to conduct an

IPO.

Reddit was reportedly seeking a valuation of at least $5 billion.

The site was valued at about 10

billion in funding rounds in 2021 and aims to sell about 10% of its shares in the

IPO. In today's trading, stocks are on the back foot with the NASDAQ trailing the S&P and the Dow.

Growth is struggling the most due to weak numbers from Palo Alto networks.

USB strategist Jonathan Golub just boosted his price target on the S&P of 500 to 5400 from 5150

saying that inflation could actually be a boost for equities. He says despite our bullish

outlook it appears we are not bullish enough. Returns and profits are measured

in nominal dollars. Put differently, higher inflation tends to be positive for stock prices.

All the markets sold off on more robust CPI and PPI reports last week, our work indicates that these demand-driven

readings are constructive for future returns.

Among active stocks, Realty Income posted better than expected Q4 revenue, but also weaker than expected

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