Reddit's IPO Surge Continues📱DNUT RUM 📈 UPS LOT 📉

FlowBank's hand-curated fresh financial news [header_noDither] Reddit's Post-IPO Surge Continues Despite receiving a "hold" rating from New Street Research, Reddit's shares soared nearly 9% to close at $65.11, marking a 92% increase since its IPO last week. This rally occurred even as over 35 million shares were traded, the highest volume since the IPO day. The optimism surrounds potential data licensing opportunities, notably with OpenAI, despite a neutral outlook from analysts and an ongoing FTC inquiry into Reddit's data licensing practices. Investors, including Reddit users and employees who benefited from a directed-share program, remain bullish on the company's prospects, driving the market cap to $12.3 billion. WHAT'S MOVING [Group 1742 (56)-1] [Start Trading](113/cXx8Z04/VWZ5PR7KW6LWN7BSRVfX61bhW4gSXWJ5c8mFsN8Qx5702-ZVTW6N1vHY6lZ3nQN90BnrvHfC94N3ds6k8TY2FfW5zXzkX6nTcxKW5VB_W099tvwSN6jdpmTRK9vgVllVj55RQkSVW1TcCps6Ky0sxW2XrYfd2vlp9hW1MWJ7n57jYcZW42Hvbg5QyNNSW1RH_5y14vdLcW1cBfy07NJXBdW4Mm36H6v4K0JW20x-DK1jq1ThW3vgJdf7RDvCjW2VwGn862L096W6vYMf73nZJTPW5KDNPd1ybY3JW7RNNQp5JsVKTW5fmrFb3RRtzsW3G8b3017G6wFW7zd9h461ycZKf2wcQHH04) [Group 3 (55)-2] Alibaba Alibaba cancels Cainiao IPO, opting to take full ownership of its logistics unit amid market uncertainties and strategic focus on bolstering its logistics capabilities. [Group 1753 (3)] Apple Apple announces its annual WWDC from June 10 to June 14, hinting at revealing its artificial intelligence strategy and updates to its software and possibly hardware. [Group 1754 (5)] Arista Networks Andy Bechtolsheim, co-founder of Sun Microsystems and Arista Networks, settles with the SEC on insider trading charges related to Cisco’s acquisition of Acacia Communications, agreeing to pay nearly $1 million and a five-year ban from serving as a public company officer or director. WHAT'S COMING UP? USD: Crude Oil Inventories: Exp. -0.700M v Prev. -1.952M IN OTHER NEWS Wall Street Stock futures rose Wednesday morning after Wall Street experienced declines on Tuesday, moving the indexes away from record highs. The Dow slightly fell by nearly 0.1%, the Nasdaq Composite dropped 0.4% amid tech stock challenges, and the S&P 500 decreased by 0.3%, marking its third consecutive day of losses. [Group 1769] Europe Regional markets ended higher on Tuesday, but Wednesday's session is anticipated to start nearly unchanged. Expectations include the U.K.'s FTSE 100 to open slightly down by approximately 0.03%, Germany's DAX is projected to edge up by roughly 0.01%, France's CAC to open marginally lower by around 0.01%, and Italy's FTSE MIB to start off down by about 0.04%. MARKET INSIGHTS Forex Market Weekly Outlook: SNB Leads The Rate-Cut Waltz As the forex market edge towards the final week of March, attention is squarely fixed on Chair Jerome H. Powell's anticipated remarks at a conference hosted by the Federal Reserve Bank of San Francisco on Friday. Additionally, Friday morning will reveal the February reading of the Personal Consumption Expenditure (PCE) price index, which serves as the Fed's preferred gauge of inflation. 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