🔴 Reddit is trading 4% down today

RDDT is trading at $241.71 (-4.23%), significantly underperforming the broader market recovery following yesterday's inflation-driven declines.

• Major indices are up, with the S&P 500 +0.50% and Nasdaq +0.66%, rebounding from previous losses driven by inflation data and bank earnings.
• There is no RDDT-specific news explaining the drop, despite a recent Wells Fargo target hike and strong momentum noted earlier.
• The current decline is likely attributable to profit-taking after significant year-to-date gains.