Reddit's IPO Could Spark the Next Meme Stock Frenzy 🚀

Reddit plans to offer shares during its IPO to 75,000 of its dedicated community members, prioritizing allocations based on their karma—a measure of their contributions to the platform. Previously of little value, karma points can now provide these users with an opportunity to invest in the company, rewarding both long-term engagement and those who have gained karma from viral posts. Some users see Reddit's stock as potentially the next meme stock like GameStop since communities like r/WallStreetBets wield influence. Reddit's relationship with its most active users was strained after API changes last year that shut down third-party apps, and users took parts of the site offline in protest.