Reddit stock tumbles
Reddit dropped more than 10% after its CTO and COO sold a sizable block of shares — a move analysts say sent a negative signal amid concerns about ad growth and recent legal pressure on social platforms. The slide pushed RDDT below its 20‑day moving average and coincided with a wider social‑media selloff tied to a recent jury ruling affecting Meta and Google. (blockonomi.com)
Reddit CTO Christopher Brian Slowe reported the sale of 9,500 Class A shares on March 23, 2026, executed in multiple trades that left him with 38,413 shares held directly, according to his Form 4 filing with the SEC. (sec.gov) COO Jennifer L. Wong’s SEC disclosure shows she exercised 33,507 options on March 18, 2026 and sold roughly 33,507 Class A shares in open‑market transactions, generating about $4.8 million from those trades. (marketbeat.com) The stock registered an intraday low near $128.11 on Thursday as several outlets reported the insider filings coincided with a roughly 10% drop in RDDT trading that day. (computing.net) Cantor Fitzgerald lowered its price target on Reddit to $170 from $240 in early February, signaling analyst caution on user‑growth metrics. (investing.com) Jefferies trimmed its target to $250 on March 10 while maintaining a Buy rating, illustrating divergent analyst views on Reddit’s near‑term outlook. (marketbeat.com) A Los Angeles jury on March 25, 2026 found Meta and Google negligent in a landmark social‑media addiction case and awarded $6 million in damages, a verdict that touched sentiment across social‑platform stocks that week. (cnbc.com) The jury’s award assigned roughly 70% of compensatory damages to Meta and 30% to Google, plus additional punitive amounts, per court reporting. (foxbusiness.com) Slowe’s Form 4 also records a mix of transaction codes and transfers to the Slowe Family Trust (G(1), M, S), indicating a combination of planned Rule 10b5‑1 sales, option exercises and trust transfers disclosed to the SEC. (sec.gov)
