Khadija Saeed

Shares of Reddit Inc slid Thursday after a report from RBC Capital Markets. Unlike upbeat ad-agency checks on Meta Platforms and Alphabet’s Google, feedback on Reddit was “more mixed,” said analyst Brad Erickson. He described responses as “challenging,” pointing to low CPMs—cost per 1,000 ad impressions—that often didn’t convert well for smaller brands. Several marketers favored growing an organic audience instead of relying on paid ads, finding better ROI that way. The stock dropped 9.3% to $229.01 in afternoon trading, after hitting a high of $254.38 on volume around 7.6 million shares.