What's Going On With Reddit Stock Today?

Reddit Inc. (RDDT) Gains As Market Dips: What You Should Know

Reddit Inc. (RDDT) closed at $162.38, up 2.92% in the latest session, outperforming the S&P 500. The stock has declined 11.41% over the past month. Analysts expect strong earnings growth with projected EPS of $1.33 (up 66.25% YoY) and quarterly revenue of $886.87 million (up 51.62% YoY). Reddit holds a Zacks Rank #3 (Hold) with a Forward P/E of 29.92, trading at a premium to its industry average.

Shares of communications services are trading higher after AI executives from firms including Anthropic, OpenAI and SpaceXAI signaled that the industry's growth may have to be slowed, which may limit competition in content creation, advertising sales and other areas. The sector's cash flow from ads and subscription revenue may also be attractive to investors amid elevated bond yields, inflation fears and interest rate expectations.

Why Is Snap Stock Surging on Friday?

Snap Inc. (SNAP) stock surged Friday following macroeconomic relief and the rollout of Snapchat Plans. Read the latest market update.