Reddit's IPO has garnered significant attention in the tech sector and on Wall Street. The company's stock had a strong public listing and has experienced substantial growth, with investors speculating on its potential as a meme stock. Market enthusiasm for Reddit and Astera Labs' stocks is seen as a shift from a more cautious market sentiment, with AI technology playing a role in driving Reddit's stock performance. Options trading for Reddit's stock has shown remarkable numbers, indicating high market interest and potential volatility.