Reddit, Inc. (RDDT) stock crashed due to Wells Fargo downgrade and fears of Google's AI

From Yahoo Finance: 2025-05-21 20:31:00

On Wednesday, ten companies, including Reddit, Inc. (RDDT), saw significant losses in the stock market due to government policies and poor earnings. The Dow Jones fell 1.91%, the S&P 500 dropped 1.61%, and the Nasdaq declined 1.41%. Reddit’s stock plummeted by 9.27% after Wells Fargo downgraded its rating to “Equal Weight” and lowered the price target to $115. The downgrade was based on fears that Google’s AI integration could harm Reddit’s customer count. RDDT ranks 4th on the list of firms in the red. Investors are advised to consider other AI stocks for better returns.



Read more at Yahoo Finance: Why Reddit, Inc. (RDDT) Crashed Today