Reddit Inc.’s filing revealed that its CEO & President Huffman Steve Ladd unloaded Company’s shares for reported $0.93 million on Sep 30 ’24. In the deal valued at $66.20 per share,14,000 shares were sold. As a result of this transaction, Huffman Steve Ladd now holds 651,775 shares worth roughly $47.18 million.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Then, Slowe Christopher Brian sold 11,000 shares, generating $721,165 in total proceeds. Upon selling the shares at $65.56, the Chief Technology Officer now owns 339,295 shares.
Before that, Slowe Christopher Brian sold 5,000 shares. Reddit Inc. shares valued at $328,016 were divested by the Chief Technology Officer at a price of $65.60 per share. As a result of the transaction, Slowe Christopher Brian now holds 35,068 shares, worth roughly $2.54 million.
B. Riley Securities initiated its Reddit Inc. [RDDT] rating to a Buy in a research note published on September 20, 2024; the price target was $75. A number of analysts have revised their coverage, including Loop Capital’s analysts, who increased its forecast for the stock in early August from “a Hold” to “a Buy”. ROTH MKM also remained covering RDDT and reiterated its “Buy” recommendation on July 26, 2024. Loop Capital revised its rating on July 16, 2024. It rated RDDT as “a Hold” which previously was an “a Buy”.
Price Performance Review of RDDT
On Friday, Reddit Inc. [NYSE:RDDT] saw its stock jump 7.28% to $72.38. Over the last five days, the stock has gained 7.90%. Reddit Inc. shares have risen nearly 43.50% since the year began.
Levels Of Support And Resistance For RDDT Stock
The 24-hour chart illustrates a support level at 69.83, which if violated will result in even more drops to 67.27. On the upside, there is a resistance level at 73.91. A further resistance level may holdings at 75.43. The Relative Strength Index (RSI) on the 14-day chart is 72.10, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.84, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 3.68%. Stochastics %K at 90.45% indicates the stock is a selling.
How much short interest is there in Reddit Inc.?
A steep rise in short interest was recorded in Reddit Inc. stocks on 2024-09-13, dropping by -1.88 million shares to a total of 5.23 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 7.11 million shares. There was a decline of -35.98%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on May 08, 2024 when Needham resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $63.
