"Reddit Stock Plunges as Short Sellers Target IPO"
TL;DR Summary
Reddit shares plunged almost 25% in two days, finishing the week below their first day close after the company's IPO. The decline began on Wednesday when the stock sank about 11%, and continued as CEO Steve Huffman and COO Jennifer Wong disclosed selling hundreds of thousands of shares. Despite a strong start to the week with a 30% surge on Monday, New Street Research issued a neutral rating on the company, and analysts expect volatility leading up to the first earnings report.
- Reddit shares plunge almost 25% in two days, finish the week below first day close CNBC
- Short sellers target Reddit shares as stock slips Reuters
- Reddit tumbles, nears opening trade price (RDDT) Seeking Alpha
- Reddit stock falls as short-sellers come after IPO Quartz
- Valuing Reddit, take 2 Financial Times
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