Why Reddit Stock Is Plummeting Today
Reddit (NYSE: RDDT) stock is sinking in Thursday's trading. The social media company's share price was down 9.4% as of 2:45 p.m. ET amid 0.7% declines for the S&P 500 index and the Nasdaq Composite index.Growth-dependent tech stocks are seeing big pullbacks today after Walmart issued sales guidance that prompted an uptick in macroeconomic concerns. The company's share price may also be under pressure following recent news about the latest funding round for X, the company formerly known as Twitter.Walmart published its fourth-quarter earnings results before the market opened this morning and posted sales and earnings for the period that topped Wall Street's forecasts. Unfortunately, the company paired the strong Q4 print with forward revenue guidance that raised concerns about the health of the economy and triggered sell-offs for the broader market.Continue reading
Reddit (NYSE: RDDT) stock is sinking in Thursday's trading. The social media company's share price was down 9.4% as of 2:45 p.m. ET amid 0.7% declines for the S&P 500 index and the Nasdaq Composite index.
Growth-dependent tech stocks are seeing big pullbacks today after Walmart issued sales guidance that prompted an uptick in macroeconomic concerns. The company's share price may also be under pressure following recent news about the latest funding round for X, the company formerly known as Twitter.
Walmart published its fourth-quarter earnings results before the market opened this morning and posted sales and earnings for the period that topped Wall Street's forecasts. Unfortunately, the company paired the strong Q4 print with forward revenue guidance that raised concerns about the health of the economy and triggered sell-offs for the broader market.
