The Globe and Mail reports in its Monday edition that Reddit's initial public offering is currently between four and five times oversubscribed, making it more likely the social media platform will attain the $6.5-billion valuation it seeks (all figures U.S.). A Reuters dispatch to The Globe says that while the oversubscription does not guarantee a strong performance in the stock market debut, it means the company is poised to at least reach its targeted price range of $31 to $34 a share when it prices the IPO in New York on Wednesday. Marketing of the IPO is continuing amid the regulatory "quiet period" ahead of an IPO. Reddit has already curbed its valuation expectations after it was valued in a $10-billion private fundraising round in 2021. The company's IPO is currently seeking to raise as much as $748-million. Despite the loyalty of many of its users, Reddit has lost money every year since its launch in 2005 and has lagged the commercial success of contemporaries such as Meta Platforms' Facebook and Twitter, now X. The focus of many Reddit users on niche subjects and the platform's somewhat loose approach to content moderation has been a sticking point with some advertisers. Reddit boasts 100,000 on-line forums.