Why Reddit Stock Got Hammered on Wednesday

One of the more up-and-coming social media stocks in recent times, Reddit (RDDT -9.41%), went down quite a bit on Wednesday. Investors traded assertively out of the stock following an analyst's price-target cut, to the point where it closed the day more than 9% in the red. That was a far steeper fall than the S&P 500 index's 1.6% decline.The threat of AIThat pundit was Baird's Colin Sebastian, and before market open he changed his Reddit fair-value assessment to $120 per share, well down from his previous$ ...