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

121.57

Mkt cap

23B

Volume

7.6M

High

133.22

P/E Ratio

-43.24

52-wk high

133.22

Low

121.57

Div yield

N/A

52-wk low

37.35

Wells Fargo & Company (NYSE:WFC) terminated over a dozen employees in its wealth and investment management division for allegedly falsifying work activity. The terminations follow an investigation into the use of devices to simulate keyboard activity. This incident is reminiscent of a 2018 probe into expense policy breaches at the company. Despite the finance sector's push for office returns, Wells Fargo has delayed its return compared to JP Morgan Chase & Co. (NYSE:JPM) and Goldman Sachs Group, Inc. (NYSE:GS).

Portfolio Pulse from Nabaparna Bhattacharya

June 13, 2024 | 5:34 pm

Zhihu Inc. (NYSE:ZH) reported its first-ever revenue decline since its New York listing, with a 3.3% drop in Q1. Despite improving its gross margin by over 5 percentage points, the company's net loss slightly improved, but its adjusted non-GAAP loss widened. Zhihu aims to achieve non-GAAP profitability by year-end. The stock fell 2.5% post-announcement and has lost nearly 40% of its value this year. Comparatively, Baidu (NASDAQ:BIDU) and Reddit (NYSE:RDDT) have higher price-to-sales ratios.

Portfolio Pulse from The Bamboo Works

June 13, 2024 | 1:35 pm

Integral Ad Science (IAS) has partnered with Reddit to enhance ad campaign transparency using IAS's AI-driven Total Media Quality product suite. This partnership aims to provide advertisers with trusted third-party transparency, brand safety, and suitability, viewability, and invalid traffic measurement on Reddit.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 10:05 am

WallStreetBets users are celebrating massive gains from risky options bets on Apple and NVIDIA. Apple's stock saw a significant rise after its WWDC Conference, leading to substantial profits for some traders. However, not all users were fortunate, with some posting significant losses.

Portfolio Pulse from Aaron Bry

June 12, 2024 | 7:19 pm

DoubleVerify has announced the global availability of its Media Authentication offering on Reddit. This includes the DV Authentic Ad metric, which provides advertisers with third-party transparency into campaign delivery on Reddit.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 11:05 am

Cathie Wood-led Ark Invest made significant trades in Amazon.com Inc (AMZN) and Reddit Inc (RDDT). Ark's ARKW fund purchased $9.9M worth of Amazon shares following Amazon's acquisition of NBA media rights. Ark's ARKF fund bought $83,200 worth of Reddit shares after Reddit's partnership with Sprinklr. Other trades include purchases of Intellia Therapeutics (NTLA) and PagerDuty (PD), and sales of Exact Sciences (EXAS), Verve Therapeutics (VERV), and ServiceNow (NOW).

Portfolio Pulse from Benzinga Neuro

June 07, 2024 | 2:25 am

Reddit Inc (NYSE:RDDT) has announced an expanded partnership with Sprinklr Inc (NYSE:CXM) to enhance their Data API and Advertising API. This partnership will allow Sprinklr customers to access Reddit's full advertising suite and integrate it into their enterprise strategies, providing enhanced feedback, sentiment, trends, and competitive insights.

Portfolio Pulse from Adam Eckert

June 06, 2024 | 2:58 pm

Sprinklr, Inc. (NYSE:CXM) shares are down 23.6% after reporting mixed Q1 FY25 results. Despite beating sales and EPS estimates, the company cut its FY25 revenue outlook and provided weak Q2 guidance. Additionally, Sprinklr announced Trac Pham as co-CEO and an expanded partnership with Reddit, Inc. (NYSE:RDDT). Multiple analysts downgraded the stock and lowered price targets.

Portfolio Pulse from Lekha Gupta

June 06, 2024 | 1:26 pm

Sprinklr and Reddit have announced an expanded strategic partnership, making Sprinklr the first official partner for Reddit's Data API and Advertising API.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 12:09 pm

Shutterstock Inc. (NYSE:SSTK) has partnered with Reka AI to enhance its digital asset metadata using multimodal language AI models. This partnership aims to improve the metadata of Shutterstock's extensive library of digital assets. The licensing business with AI firms generated $104 million in revenue last year, and Shutterstock anticipates this segment to generate $250 million in sales by 2027. The company's shares are currently trading lower by 2.13%.

Portfolio Pulse from Shivani Kumaresan

June 04, 2024 | 4:51 pm

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