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Why Reddit Stock Is Falling Hard Today
Shares of the social media company Reddit (NYSE: RDDT) were tumbling this morning ahead of the release of the company's first-quarter results tomorrow. Investors have cooled on Reddit's stock as they anticipate the company could have another disappointing quarter.The stock price is likely also being affected by the fact that the U.S. economy contracted in the first three months of the year, its first quarterly decline since 2022.Reddit's stock fell by as much as 11% today and was down by 7.7% as of 11:43 a.m. ET on Wednesday.Continue reading
Shares of the social media company Reddit (NYSE: RDDT) were tumbling this morning ahead of the release of the company's first-quarter results tomorrow. Investors have cooled on Reddit's stock as they anticipate the company could have another disappointing quarter.
The stock price is likely also being affected by the fact that the U.S. economy contracted in the first three months of the year, its first quarterly decline since 2022.
Reddit's stock fell by as much as 11% today and was down by 7.7% as of 11:43 a.m. ET on Wednesday.
