Evidence shows that Sacks’s prediction substantially matches what happened:

• IPO timing and valuation level: Reddit priced its IPO on March 20, 2024 at $34 per share, at the top of a $31–$34 range, implying roughly $6.4 billion in equity value (about $5.4 billion on a narrower share-count basis). This is close to the earlier ~$5 billion rumor, i.e., in the same valuation ballpark rather than far above it. (fortune.com)
• Deal execution (no withdrawal or major re-cut): The offering went ahead as planned, priced at the top of the indicated range (not down-sized or repriced lower) and was reported to be 4–5x oversubscribed, consistent with a strong book and a clean execution by the underwriters. (reuters.com)
• Initial trading and market reception: On March 21, 2024, Reddit began trading on the NYSE under ticker RDDT. The stock opened well above the IPO price, traded up as much as ~70% intraday, and closed around $50.4–$50.5, roughly 48% above the $34 IPO price, giving it a market cap near $9.5–10 billion. Major outlets described this as a strong / robust debut and a positive signal for the tech IPO market. (cnbc.com)
• No material break below IPO price in the first days: Historical price data show that on March 22, 2024 (the second trading day), Reddit closed at $46.00 with an intraday low of $45.34, still well above the $34 IPO price. Later in April 2024 the lowest recorded price was about $37.35, which is still above the IPO level. Thus in the initial days—and in fact for many months—the stock never traded below its IPO price. (financecharts.com)
• Longer-term context (doesn’t negate the call): Although Reddit later became quite volatile and at one point in March 2025 fell about 60% from a peak above $200 to roughly $110, coverage still notes it remained well above its IPO price (up roughly 200% from the offering). This later decline doesn’t contradict Sacks’s more limited claim about the IPO’s pricing and early trading. (ccn.com)

Given that the IPO was priced near the rumored $5B equity value, executed without being withdrawn or significantly re-cut, and traded strongly without breaking below the IPO price in its early days, Sacks’s prediction is best classified as right.