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

Reddit shares are trading higher following the announcement of a partnership with OpenAI.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 12:35 pm

Doximity, Inc. (NYSE:DOCS) shares surged 14% in pre-market trading after reporting better-than-expected Q4 financial results. The company posted a 6% YoY revenue increase to $118.1 million, beating estimates, and adjusted earnings of 25 cents per share, surpassing the 20 cents per share forecast. Doximity also provided strong Q1 revenue guidance. Other notable pre-market movers include Akanda Corp. (NASDAQ:AKAN), Fangdd Network Group Ltd. (NASDAQ:DUO), and DXC Technology Company (NYSE:DXC), among others.

Portfolio Pulse from Avi Kapoor

May 17, 2024 | 12:19 pm

The article highlights the pre-market movements of 12 communication services stocks on Friday. Fangdd Network Group (DUO) saw the highest increase, while MediaCo Holding (MDIA) experienced the largest decline.

Portfolio Pulse from Benzinga Insights

May 17, 2024 | 12:07 pm

Needham analyst Laura Martin reiterates a Buy rating on Reddit (NYSE:RDDT) and maintains a $63 price target.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 11:10 am

Deutsche Bank analyst Ben Black has maintained a Buy rating on Reddit (NYSE:RDDT) and raised the price target from $62 to $65.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 10:30 am

Reddit Co-Founder Alexis Ohanian highlighted Democrats who supported a pro-crypto law in the Senate. The Senate repealed an SEC directive preventing financial firms from custodying Bitcoin. Reddit's shares rose 10% after announcing a partnership with OpenAI.

Portfolio Pulse from Aniket Verma

May 17, 2024 | 3:34 am

The Dow Jones Industrial Average surpassed 40,000 points, marking a historic milestone. Key stocks on investors' radars included Reddit, GameStop, Take-Two Interactive, Applied Materials, and Tesla. Reddit announced a partnership with OpenAI, GameStop saw a significant drop due to short-seller activity, Take-Two and Applied Materials reported strong financial results, and Tesla faced a proposed class-action lawsuit.

Portfolio Pulse from Benzinga Neuro

May 17, 2024 | 3:06 am

Reddit Inc (NYSE:RDDT) shares surged in after-hours trading following the announcement of a new partnership with OpenAI. The collaboration will integrate Reddit content into OpenAI's ChatGPT and introduce AI-powered features to Reddit, enhancing user engagement and advertising capabilities.

Portfolio Pulse from Adam Eckert

May 16, 2024 | 9:01 pm

Reddit shares are trading higher after the company announced a partnership with OpenAI.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 8:38 pm

Reddit and OpenAI have announced a partnership where OpenAI will integrate Reddit content into ChatGPT, and Reddit will incorporate AI features and mods. This collaboration aims to enhance user experience on both platforms.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 8:37 pm

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