🔴 Reddit is trading 4.32% down today after Wells Fargo lowers AI licensing renewal expectations

Reddit is trading at $150.79 (-4.32%) after a Wells Fargo note lowered expectations for a favorable renewal of its Google AI-content licensing agreement, worth roughly $60 million annually.

• Reddit is underperforming a strongly positive market, with major indexes advancing on September 17, 2026.
• Google-driven traffic reportedly declined approximately 10% month-to-date.
• COO Jennifer Wong sold about $9.7 million in shares.