Reddit (RDDT) shares rose 1.5% in premarket trading Tuesday following a Piper Sandler report.
The report indicated Reddit's user base grew 8% month-over-month in August. This marked the highest monthly growth rate for the year. It also represented a rebound from a 2% decline in July.
International users drove this growth, surging 29.3%. U.S. user growth decelerated to 5.2%.
This positive data emerged amid a broader market downturn. Concerns over inflation and potential Federal Reserve interest rate hikes weighed on the market.