Reddit Stock News

A Wall Street analyst released a bearish statement that turned investor sentiment on Reddit (RDDT -2.31%) stock.

Shares of Reddit (RDDT) slipped Monday as Wells Fargo downgraded the stock amid concerns that Google's implementation of AI search features could hurt the social media company.

Two social media giants, Snap Inc (NYSE:SNAP) and Pinterest Inc (NYSE:PINS), are shifting lower on Wall Street today.

Reddit Inc (NYSE:RDDT) stock is under pressure this morning, last seen 5% lower at $107.52, after Wells Fargo downgraded the stock to “equal weight” from “overweight” and slashed its price target to $115 from $168.

Reddit stock slid in Monday trading after getting hit was a downgrade from analysts at Wells Fargo.

Reddit (RDDT) presents a compelling investment thesis based on its unique platform, with engaged user base. Reddit's financials—no debt, a huge cash pile, and strong free cash flow growth make it attractive. At 39x forward free cash flow, I see Reddit as a rare mix of value and high growth.

Reddit co-founder Alexis Ohanian has purchased a minority stake in Chelsea FC Women. The investment gives him an ownership stake in two of the most-valuable teams in women's sports.

The tech sector often lures in investors who are dreaming of millionaire-making gains. After all, great tech stocks like Apple, Amazon, and Nvidia have generated huge multibagger gains over the long term.