Reddit falls after Redburn Atlantic starts coverage at 'sell'

Reddit's RDDT.N shares down 4% at $123.05 early Mon after Redburn Atlantic initiates coverage of social media firm with 'sell' rating

Redburn sets PT at Street-low $75, per LSEG data, implying ~42% downside to stock's close on Fri

Earlier this month, co launched new content moderation and analytics tools in co's latest step to boost platform engagement

In Feb, RDDT missed Wall Street consensus for daily active unique visitors, hit by Alphabet's GOOGL.O Google search algorithm change

Now, of 22 brokerages covering RDDT, recommendation breakdown is 14 "strong buy" or "buy", 6 "hold", and 2 "sell" or "strong sell" - LSEG

Median PT of $210 unchanged from a month ago, but up from $180 on Jan 17

With move on Mon, shares down ~25% YTD

The microblogging platform behind the popular WallStreetBets forum, went public last Mar after its IPO priced at $34