Social media platform company Reddit Inc ( RDDT ) is set to make its public debut on the New York Stock Exchange on Thursday. Reddit ( RDDT ) co-founder and CEO Steve Huffman talked about the retail aspect of Reddit ( RDDT ) ahead of the company’s IPO.

What To Know: Reddit ( RDDT ) is best known on Wall Street as the home of r/WallStreetBets. In early 2021, several retail traders came together on the subreddit and sparked a massive short squeeze in original meme stocks GameStop Corp ( GME ) and AMC Entertainment Holdings Inc ( AMC ) .

Although r/WallStreetBets is the most well-known, there are several other subreddits on the platform where retail traders discuss markets on a daily basis.

One dynamic that stands out from Reddit’s IPO: the company reserved 8% of its IPO shares for active users and moderators on the platform.

Thursday on CNBC’s “Squawk On The Street,” Huffman said Reddit ( RDDT ) wanted to give retail investors the same opportunity that institutional investors would have in the IPO because retail traders are a “healthy component” of Reddit ( RDDT ).

“Our goal there was to … I think as is the ethos of Reddit ( RDDT ), level the playing field,” Huffman said.

See Also: Ahead Of Reddit’s Market Debut, Munster Expresses Uneasiness Over IPO Pricing: ‘Grab The Popcorn, Throw Out The Fundamentals’

Interestingly enough, Reddit ( RDDT ) warned in its S-1 filing that "meme stock" schemes on r/WallStreetBets could be a risk for investors. CNBC’s Julia Boorstin, who interviewed Huffman, said there has been a lot of negative chatter on r/WallStreetBets leading up to the company’s IPO.

The Reddit ( RDDT ) CEO told CNBC that he is a member of r/WallStreetBets and has seen a lot of the comments in recent weeks.

“That’s Reddit ( RDDT ). Reddit ( RDDT ) is people. Reddit ( RDDT ) is a fun and special, but sometimes crazy place and so I wouldn’t expect anything less from our community,” Huffman said.

“Reddit is nothing without our users and communities and I think that’s the beautiful thing about Reddit ( RDDT ) is they tell it like it is. But you have to remember, they’re doing that on Reddit.”

Reddit ( RDDT ) priced its IPO on Wednesday at $34 a share, which was at the top of the expected range. The IPO values the company around $6.5 billion and should bring in approximately $519 million for Reddit ( RDDT ). The company is selling about 15.28 million shares in the IPO, and existing shareholders are selling another 6.72 million shares.

Reddit ( RDDT ) stock is set to begin trading under the ticker symbol “RDDT” Thursday.