RDDT is trading at $151.41 (-5.08%) today, tracking a sharp decline in the broader tech sector following hotter-than-expected inflation data.
- CPI inflation reached 3.8% YoY, exceeding market forecasts and dampening expectations for near-term Federal Reserve rate cuts.
- Major indices are under pressure with the NASDAQ falling 1.26% and the S&P 500 down 0.41%, as geopolitical tensions and rising oil prices add to market volatility.
- No company-specific news was reported for Reddit; the stock's movement is currently aligned with general weakness across the technology sector.