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

126.51

Mkt cap

23B

Volume

6.8M

High

130.83

P/E Ratio

-38.50

52-wk high

230.41

Low

123.45

Div yield

N/A

52-wk low

37.35

Reddit shares are trading lower after Loop Capital downgraded the stock from Buy to Hold.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 11:18 am

Loop Capital has downgraded Reddit (NYSE:RDDT) from Buy to Hold, while maintaining the price target at $75.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 10:29 am

Twelve large-cap stocks showed strong performance from June 30 to July 6. Notable gains were seen in Sirius XM Holdings, Tesla, Paramount Global, Reddit, Li Auto, Samsara, KB Financial Group, Shinhan Financial Group, Mongodb, Southern Copper Corporation, Zscaler, and NIO.

Portfolio Pulse from Lekha Gupta

July 07, 2024 | 5:43 pm

Loop Capital analyst Alan Gould maintains a Buy rating on Reddit (NYSE:RDDT) and raises the price target from $60 to $75.

Portfolio Pulse from Benzinga Newsdesk

July 03, 2024 | 11:52 am

Chewy, Inc (NYSE:CHWY) stock gained in premarket trading after Keith Gill, known as 'Roaring Kitty,' disclosed a 6.6% passive stake. The stock had previously surged due to strong first-quarter results and a $500 million share repurchase program. Goldman Sachs raised its price target to $35.

Portfolio Pulse from Anusuya Lahiri

July 01, 2024 | 10:58 am

Rivian Automotive, Carvana, and other large-cap stocks were among the top gainers last week. Rivian surged 30.04% due to cost-cutting and a joint venture with Volkswagen. Carnival gained 17.78% on strong Q2 earnings. FedEx rose 17.51% on strong Q4 results and a $2.5 billion buyback plan. Samsara advanced 16.37% after RBC Capital reiterated an Outperform rating. Suzano increased 12.24% after dropping its acquisition pursuit of International Paper. Carvana rose 11.93% after updating its operating plan. FTAI Aviation, Reddit, Mongodb, and Alnylam Pharmaceuticals also saw significant gains.

Portfolio Pulse from Lekha Gupta

June 30, 2024 | 4:57 pm

Reddit Inc. (NYSE:RDDT) saw its stock surge nearly 9% after announcing a new policy to block automated content scraping. The update aims to protect Reddit's content from unauthorized use by AI companies. The stock closed at $61.38, up 8.68%, but fell slightly in after-hours trading.

Portfolio Pulse from Benzinga Neuro

June 26, 2024 | 6:42 am

Reddit has announced that good faith actors, including researchers and organizations like Internet Archive, will continue to have access to Reddit content for non-commercial use.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 5:38 pm

Reddit is set to update its Robots Exclusion Protocol (robots.txt) in the coming weeks. The update will continue to block and rate-limit unknown bots and crawlers.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 5:37 pm

Trump Media & Technology Group Corp (NASDAQ:DJT) is trading higher after announcing it expects to receive over $69.4 million from the cash exercise of warrants in June 2024. The company could receive up to $247 million if all warrants are exercised. Despite a significant decline in market value, TMTG plans to use the funds for platform development and potential mergers and acquisitions.

Portfolio Pulse from Anusuya Lahiri

June 24, 2024 | 12:01 pm

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