00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Reddit shares fell Thursday as broader market weakness, insider selling, and a declining
00:07tech sector weight on the stock, according to Benzinga. The Nasdaq dropped 1.35% and
00:13the S&P 500 fell 0.99%. Reddit is underperforming major indices as investors rotate out of high
00:20growth tech stocks amid broad selling pressure. SEC filings showed CTO Christopher Brian Slough
00:26sold 2,000 shares for about $1.28 million at $74.60 per share, while COO Jennifer Wong earlier
00:34sold 5,660 shares for about $5.62 million. Short interest declined from 18.47 million to 17.24
00:44million shares, with 14.65% of the company's float held short. Shares were down by 10.77%
00:51at $124.59 in Friday's pre-market trading, according to data from Benzinga Pro.
00:58For all things money, visit Benzinga.com.
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