Reddit stock surges 8% after releasing new AI ad tools at Cannes Lions festival

From Yahoo Finance: 2025-06-17 11:22:00

Reddit stock surged 8% after unveiling new AI ad tools at Cannes Lions festival. Reddit Community Intelligence allows marketers to analyze trends for ad campaigns and integrate user comments. S&P 500 fell slightly as Reddit stock peaked at 15.8% earlier. Reddit is the second-most-cited website in Google AI overviews, benefiting from a $60 million deal with Google. Despite recent gains, Reddit stock remains down 16% for the year due to changes in Google’s Search algorithm. Earnings were impacted by missed projections and volatility in user traffic. Reddit went public in March 2024, led by major investor OpenAI’s Sam Altman, recording its first profit shortly after. CEO Steve Huffman warned of potential volatility due to ongoing changes in Google Search’s algorithm.



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