The Reddit IPO: too good to be true?

Reddit’s IPO on March 21, with a launch price of $34 (the high end of the range) was apparently a success: they briefly traded amid great euphoria at $50.44, up 48%.

However, things may not be what they seem. Some of us had already warned that Reddit had reached its high water mark, and now analysts such as New Street Research or Hedgeye are striking a note of caution, which coupled with the speed…