Reddit Inc.'s initial public offering (IPO) has significantly impacted the tech sector and Wall Street, marking a strong debut with a $748 million IPO. The social media platform's stock experienced a bombastic first trading session on the NYSE, hinting at the potential emergence of a new meme stock. Following its public listing, Reddit now faces the challenge of generating profits. The company's stock rallied as much as 16% after the market debut, with the launch of options trading attracting bullish bets. This positive momentum could provide an impetus for other venture-backed technology companies considering IPOs. Shares in Reddit surged last Thursday in their blockbuster IPO and saw another explosion on Monday as investors showed optimism by buying into options on the firm. The stock's performance continues to charge higher, even as it receives a neutral rating. The Reddit options launch draws bulls as shares extend gains.