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Why Reddit Stock Lost 19% in February
Shares of Reddit (NYSE: RDDT) were among the losers on the stock market last month after better-than-expected results weren't enough to keep the company's blistering momentum going.The social media stock has been a huge winner on the market since its IPO a year ago, but investors now seem to believe its valuation has run up far enough, especially as concerns about the broader economy are swirling around growth stocks.According to data from S&P Global Market Intelligence, the stock finished February down 19%. As you can see from the chart, the stock started falling on its earnings report in the middle of the month and continued to slide from there.Continue reading
Shares of Reddit (NYSE: RDDT) were among the losers on the stock market last month after better-than-expected results weren't enough to keep the company's blistering momentum going.
The social media stock has been a huge winner on the market since its IPO a year ago, but investors now seem to believe its valuation has run up far enough, especially as concerns about the broader economy are swirling around growth stocks.
According to data from S&P Global Market Intelligence, the stock finished February down 19%. As you can see from the chart, the stock started falling on its earnings report in the middle of the month and continued to slide from there.
