RDDT is trading 3.1% down now at $217.88 as traders react to insider selling headlines and valuation concerns following a strong run-up.
- A recent Form 4 showed Reddit’s Chief Accounting Officer sold approximately $2.62M of stock.
- Although the sale was pre-scheduled under a Rule 10b5-1 plan, it is weighing on sentiment in the high-multiple name.
- Broader macro uncertainty and elevated short interest also appear to be amplifying volatility around the stock.