Why Reddit Inc. (RDDT) Went Down On Thursday?
From Yahoo Finance: 2025-03-28 05:08:00
On Thursday, Wall Street shares fell due to Trump’s new tariffs on US imports. Nasdaq dropped 0.53%, Dow Jones 0.37%, S&P 500 0.33%. Car manufacturers’ performance decline post Trump’s 25% tariff on imported vehicles affected market. Ten firms mirrored the slump; Reddit Inc. (RDDT) dropped 8.29% after platform shutdown.
Reddit Inc. experienced a share price drop after platform shutdown. Downdetector reported users had trouble accessing Reddit. RDDT confirmed degraded performance, but platforms were quickly restored. Mixed ratings from investment firms: Needham “buy,” Redburn pessimistic. Needham set $220 price target, while Redburn questioned RDDT’s sustainability.
RDDT ranks 7th among firms that mirrored Wall Street slump on Thursday. While promising, some AI stocks offer higher returns in a shorter time. Needham set optimistic target for RDDT, Redburn questioned its sustainability. Check out our report on the cheapest AI stock for potential investment opportunities.