RDDT is trading at $141.57 (+4.00%) following a partnership with Shopify to launch shoppable ads, allowing users to purchase products directly within the Reddit platform.
- The integration introduces new ad formats like Collection Ads, enabling Shopify merchants to connect with high-intent Reddit communities.
- Reddit reports a 40% year-over-year growth in shopping-related activity, while the stock also benefits from broader market gains as the Nasdaq rises 0.99%.