Streetbeat News

RDDT

Reddit, Inc.

https://www.redditinc.com

Industry

Internet Content & Information

Reddit, Inc. operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California. Reddit, Inc. operates as a subsidiary of Advance Publications, Inc.

Open

128.79

Mkt cap

22B

Volume

4.6M

High

131.69

P/E Ratio

-40.38

52-wk high

139.04

Low

123.14

Div yield

N/A

52-wk low

37.35

Reddit shares are trading higher following a report suggesting the company has made deals with major sports leagues to get content to its site and draw advertisers.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 3:06 pm

Reddit has partnered with the NFL and NBA to enhance its revenue streams. This collaboration aims to leverage the popularity of sports content on the platform to attract more advertisers and increase user engagement.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 1:03 pm

The article compares the performance of two social media stocks, Reddit, Inc. (NYSE:RDDT) and Trump Media & Technology Group Corp. (NASDAQ:DJT), since their March listings. TMTG has faced volatility due to political factors and user growth challenges, while Reddit has benefited from AI partnerships and strong fundamentals.

Portfolio Pulse from Shanthi Rexaline

July 17, 2024 | 8:21 am

Apple, Nvidia, and other tech giants have been accused of using YouTube videos to train AI models without creators' consent. Marques Brownlee (MKBHD) highlighted the issue, noting that Apple sourced data from companies that scraped YouTube content. This practice has raised concerns about data privacy and unauthorized content use.

Portfolio Pulse from Benzinga Neuro

July 17, 2024 | 7:57 am

U.S. stocks traded mostly higher with the Dow Jones surging over 650 points. Morgan Stanley reported better-than-expected Q2 results. Silo Pharma, Yoshitsu Co., and AngioDynamics saw significant stock price increases, while Reddit, Charles Schwab, and Clearmind Medicine experienced declines.

Portfolio Pulse from Avi Kapoor

July 16, 2024 | 6:31 pm

Shares of The Charles Schwab Corporation (NYSE:SCHW) fell over 7% following their second-quarter results, which showed a decline in adjusted net income and EPS. Other stocks such as Yoshitsu Co., Ltd (NASDAQ:TKLF) and Silo Pharma, Inc. (NASDAQ:SILO) saw significant gains, while Cyngn Inc. (NASDAQ:CYN) and Autonomix Medical, Inc. (NASDAQ:AMIX) experienced notable declines.

Portfolio Pulse from Avi Kapoor

July 16, 2024 | 5:06 pm

JMP Securities has maintained a Market Outperform rating on Reddit (NYSE:RDDT) and raised the price target from $70 to $84, according to analyst Andrew Boone.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 3:13 pm

JP Morgan analyst Doug Anmuth maintains a Neutral rating on Reddit (NYSE:RDDT) and raises the price target from $57 to $67.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 2:27 pm

Top Wall Street analysts have downgraded several major companies, including Starbucks, Dollar Tree, Zscaler, Reddit, and Yum! Brands. These downgrades have led to notable stock price movements.

Portfolio Pulse from Avi Kapoor

July 16, 2024 | 1:55 pm

CrossFirst Bankshares, Inc. (CFB) reported Q2 earnings of 37 cents per share, leading to a 12.3% drop in pre-market trading. Other stocks experiencing losses include Applied Therapeutics, Inc. (APLT), Owens & Minor, Inc. (OMI), Trump Media & Technology Group Corp. (DJT), Anavex Life Sciences Corp. (AVXL), Indivior PLC (INDV), Funko, Inc. (FNKO), and Reddit, Inc. (RDDT).

Portfolio Pulse from Avi Kapoor

July 16, 2024 | 12:15 pm

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