🔴 RDDT is trading 4.22% down today on profit-taking following its post-earnings surge and raised AI guidance

RDDT is trading at $164.39, down 4.22% as investors lock in profits following the stock's 13.07% surge triggered by its May 1 earnings beat.

• Reddit recently raised its revenue guidance to a range of $2.5B–$2.6B, driven by high-margin AI data licensing deals and global expansion efforts.
• The stock is facing valuation consolidation at a 47.94 P/E ratio, reversing gains from the previous close of $171.63 despite a 0.95% gain in the S&P 500.
• Market rotation dynamics are impacting the stock today even as broader tech sector earnings continue to show fundamental strength.