Reddit stock starts trading 38% above initial public offering price

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Reddit began trading on the New York Stock Exchange on Thursday under ticker symbol RDDT. Matt Slocum/AP

Matt Slocum/AP

Investors have upvoted Reddit in droves.

Reddit stock began trading on the New York Stock Exchange Thursday after the IPO priced at $47 a share — topping its offering price of $34 a share — as investors showed enthusiasm for a social media site that has ambitious expansion plans but has never been profitable.

With the pop of its opening price, inching beyond $50 a share during the day, Reddit

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