Reddit Tumbles 23% Premarket to Fall Below $100, Down Over 60% From 52-Week High as Search Traffic Crisis Deepens
TradingKey - On October 30, Reddit (RDDT) shares plunged by about 23% in pre-market trading to below $100, representing a cumulative pullback of roughly 62% from its 52-week high of $263.5. Although the company's third-quarter revenue and earnings both exceeded market expectations, investors focused on lower-than-expected fourth-quarter guidance, a continued decline in search engine referral traffic, and a potential significant slowdown in user growth.
TradingKeyFri, Oct 30