Reddit Shares Drop 29% to 52-Week Low Following Weak Q4 Guidance
Reddit (RDDT) shares experienced a significant sell-off on Friday, plummeting approximately 29% to close at $91.73. The sharp decline, representing a loss of $37.87 per share, pushed the stock toward a new 52-week low of $89.28. Despite reporting third-quarter results that exceeded analyst expectations, investor sentiment was heavily weighed down by weak guidance provided for the fourth quarter. The discrepancy between current earnings performance and future outlook triggered the substantial market correction.
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