Nvidia's historic day 📈 Reddit IPO 👨‍💻

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Nvidia's historic day 📈

• Nvidia recorded the largest-ever single-day jump in market value a day after it announced its quarterly earnings.

• The company added $272 billion to its market cap. Its market cap now stands at $1.94 trillion.

• The previous record was set by Meta just two weeks ago - Meta added $205 billion to its market cap after it beat earnings forecasts.

announce = make a public about a fact, occurrence, or intention
“The company announced that its profits declined much less in the second quarter than analysts had expected”

stands at = be at a certain level or height.
“Tom stands at 6 feet 4 inches”

earnings forecast = analysts' expectations of company growth and profitability
“The earning forecast of Meat is going to be 25% increase in 2025”

Reddit files to list IPO on NYSE under the ticker RDDT 🍎 

• The social media site plans to trade on the New York Stock Exchange under the ticker symbol RDDT.

• This will be the first major tech IPO of the year and the first social media IPO since Pinterest went public in 2019.

• Reddit had $804 million in annual sales in 2023, up 20% from the previous year.

• Reddit moderators will be allowed to participate in the IPO through the company's directed share program.

ticker symbol = a unique series of letters assigned to a security for trading purposes
“The ticker symbol for Google is GOOG”

annual = yearly
“The sponsored walk became an annual event”

moderators = a person who moderates an internet forum or online discussion
“Meta moderators remove harmful content ”

Vocabulary of The Week 📚