Reddit stock (RDDT) slips after CTO share-sale filing; traders weigh AI-citation thesis
Reddit shares fell 0.55% to $233.36 after CTO Christopher Slowe sold 14,000 shares for about $3.27 million, according to an SEC filing. Needham maintained a Buy rating and $300 target, citing Reddit’s frequent citations in AI-generated answers. The stock traded between $229.08 and $236.93 on volume of 2.48 million shares. U.S. indexes closed slightly lower as investors reviewed Fed minutes.