Reddit stock slides after Cantor starts coverage at Neutral and CFO sale hits filings
Reddit shares dropped 5.8% to $239.12 Friday afternoon, bucking a broader market rise after Cantor Fitzgerald began coverage with a Neutral rating and $240 target. CFO Andrew Vollero sold 8,913 shares earlier in the week under a preset plan. Investors await Reddit’s next earnings, expected in February, for updates on user growth and ad revenue.