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Reddit shares plunge more than 21%

The Motley Fool +1 · ·by G4L

RDDT
RDDT Reddit Inc
$105.66 +7.08%
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  1. 1Reddit shares fell by more than 21% in pre-market trading on October 30.
  2. 2Reddit's Q4 revenue growth forecast was approximately 40% year-over-year.
  3. 3CEO Steve Huffman stated that transitioning Reddit to a login-only experience is a key task.

So what's the key point?

Reddit's stock price suddenly dropped by more than 21 percent. This happened because the company is planning to change its service so that users must log in to use it.

Source The Motley Fool +1 · View original ↗

Related 3-line summaries

Intel and Reddit shares plunge following earnings reports The Motley Fool +1 · Nov 3Reddit pushes for login-centric experience to counter declining search traffic Social Media Today · Nov 2Reddit Q3 revenue grows 53%, surpassing $3 billion in trailing 12-month revenue The Motley Fool +1 · Oct 31
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