Reddit stock rocketed higher Wednesday, a day after the social-media company reported third-quarter revenue of $348.4 million, far surpassing analysts’ estimates of $313.6 million. If Wednesday’s gains hold, the stock will close at more than three times its March initial public offering price of $34. The rise is a real Dr. Jekyll and Mr. Hyde story, Bernstein’s Mark Shmulik wrote Wednesday.
Anita Hamilton is an Assistant Managing Editor for Barron's, a leading financial publication. With a focus on various topics related to the economy, business, and personal finance, Anita provides insightful analysis and reporting on trends and developments that impact individuals and the broader financial landscape.