Why Reddit Stock Was Falling This Week
Shares of Reddit (NYSE: RDDT) were sliding this week in response to an analyst downgrade on the social media stock. It fell sharply in the broader sell-off on Wednesday in response to a weak Treasury auction and rising Treasury yields, perhaps reflecting a lack of confidence in the U.S. economy and recessionary fears.According to S&P Global Market Intelligence, the stock was down 11.6% through Thursday at 2:10 p.m. ET.Image source: Getty Images.Continue reading
Shares of Reddit (NYSE: RDDT) were sliding this week in response to an analyst downgrade on the social media stock. It fell sharply in the broader sell-off on Wednesday in response to a weak Treasury auction and rising Treasury yields, perhaps reflecting a lack of confidence in the U.S. economy and recessionary fears.
According to S&P Global Market Intelligence, the stock was down 11.6% through Thursday at 2:10 p.m. ET.
Image source: Getty Images.
