Reddit Inc's stock surged 5.18% on Tuesday in pre-market trading, fueled by growing interest from retail investors on the popular WallStreetBets forum and positive sentiment following the company's strong fourth-quarter earnings report.
According to social media monitoring firm Unmilled, the Reddit stock was one of the most widely discussed stocks on the WallStreetBets subforum, where retail traders coordinate their investments. This increased attention from individual investors likely contributed to the stock's upward momentum.
Additionally, Reddit's recent financial results were better than expected, further boosting investor confidence. The company reported higher adjusted earnings and revenue in Q4, suggesting a robust performance and potential for future growth.
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