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via seekingalpha.comMarkets

Reddit falls 29% to new 52-week low on weak Q4 guidance

FROM THE WIRE · SEEKINGALPHA.COM

[Reddit, Spotify, Podcasts and other cellphone Apps on iPhone screen] stockcam/iStock Unreleased via Getty Images Reddit (RDDT [https://seekingalpha.com/symbol/RDDT]) shares tumbled about 29% on Friday, closing at $91.73 after a drop of $37.87 on the day. The slide took the…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishGuidance below consensus and warnings on search referral traffic drove a sharp drop in the stock.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Reddit reported third quarter revenue of 895 million dollars, up 53% year over year.
  2. 02Fourth quarter revenue outlook of 1.0 to 1.03 billion dollars fell short of consensus.
  3. 03The stock closed at 91.73 dollars after hitting a new 52-week low of 89.28 dollars.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Reddit, Inc.RDDTStock91.67 USDMarket closedtoday -29.27%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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