The IPO market is back, baby! 🥂

Reddit, known as the “front page of the internet,” cashed in on that reputation; it priced its shares at the top of its target range (between $31 and $34 per share), allowing the company to raise almost $750 million.

Even better: Once trading opened to the masses, Reddit’s stock jumped another 50% — a strong signal that investors once again have an appetite for new stock listings, especially for the first major social media company to go public in five years.

💭 By the way: Yesterday, we offered the next 20 sign-ups for We Study Markets Pro (30-day trial), a free copy of Howard Marks’ timeless book, Mastering the Market Cycle. We’re extending that offer again today

Sign up for our Pro market research and claim your copy of Mastering the Market Cycle.

— Matthew & Shawn

Here’s today’s rundown:

Today, we'll discuss the biggest stories in markets:

This, and more, in just 5 minutes to read.