Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Reddit is targeting a valuation of at least $5 billion for its upcoming IPO, potentially happening as early as March. This valuation is based on early feedback from investors and exceeds current private market estimates, which range between $4.5 to $4.8 billion. The final details regarding the IPO's valuation and timing are still under discussion and could change depending on the state of the IPO market.

2. Flutter Entertainment, the parent company of FanDuel, plans to list on the New York Stock Exchange. FanDuel currently leads the U.S. market in both gross and net revenue, surpassing competitors like DraftKings, BetMGM, Caesars Sportsbook, and Fanatics Sportsbook. This secondary listing, under the ticker FLUT, aims to draw more investors and capital to FanDuel, leveraging its strong market position. It will also provide a new option for investors interested in the sports betting sector, as currently, DraftKings is the only major company in the space listed on a US exchange.

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4. Headlines

   1. Disposable vapes will be banned in the UK under new legislation.

   2. Neuralink has implanted tech in a human for the first time.

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