Reddit Receives 'Outperform' Rating from Wedbush Despite Stock Decline
Wedbush analyst Ygal Arounian upgraded Reddit (RDDT) to 'Outperform' with a $250 price target, citing strong community engagement and AI monetization potential. However, the stock fell 4% on July 16 due to broader tech sector de-risking triggered by TSMC's raised capital expenditure outlook.