"Reddit's Stock Slips as Short Sellers Target Shares and Investors Bid Up Post-IPO Rally"
TL;DR Summary
Short sellers are targeting Reddit shares, with at least 7.1% of the company's free share float sold short, indicating a negative view of its future price. Reddit's stock fell 12% to $56.91, snapping a two-day streak of gains, and is now more than 20% off its record high. In the options market, trading has cooled as retreating shares prompt traders to moderate bullish bets, with sentiment leaning toward bearish bets.
- Short sellers target Reddit shares as stock slips Reuters
- Reddit Tumbles After Hedgeye Names It a Short Idea and Sees 50% Slump Bloomberg
- 3 Things You Have to Know About Reddit's IPO Yahoo Finance
- Reddit investors shrug off hold rating, bid up stock another 9% as post-IPO rally continues CNBC
- Valuing Reddit is hard Financial Times
Reading Insights
Total Reads
0
Unique Readers
11
Time Saved
1 min
vs 2 min read
Condensed
76%
288 → 70 words
Want the full story? Read the original article
Read on Reuters