🔴 RDDT is trading 4% down today amid broader tech weakness and geopolitical tensions

RDDT is trading at $157.60 (-4.08%) as tech stocks face selling pressure from disappointing sector earnings and rising geopolitical risks.

• The decline follows a +4.78% rally to $164.31 in the previous session, which was driven by DA Davidson initiating coverage.
• Broader market sentiment is weighed down by escalating US-Iran tensions in the Strait of Hormuz and oil prices surging above $103/bbl.
• Negative tech momentum is fueled by sharp post-earnings drops in ServiceNow (-13%) and IBM (-7%), dragging on the NASDAQ.