Core Insights - Reddit Inc. (NYSE:RDDT) has experienced a significant stock rally, increasing by 12.04% to close at $218.48, driven by investor bargain-hunting after key executives disposed of shares [1][3]. Executive Share Dispositions - Key executives at Reddit, including CEO Steve Huffman and CFO Andrew Vollero, sold substantial amounts of their shares last week, with Huffman selling $7.56 million worth and Vollero disposing of $3.69 million [2][3]. - Other executives also sold significant shares: Reynolds ($1.17 million), Lee ($3 million), Wong ($19 million), and Slowe ($7.4 million) [3]. Financial Performance - Reddit reported a remarkable net income increase of 443%, rising to $163 million from $30 million year-on-year [4]. - Revenues surged by 68% to $585 million, with advertising revenues jumping 74% to $549 million and other revenues increasing by 7% to $36 million [4]. - For the upcoming fourth quarter, Reddit is projecting revenues between $655 million and $665 million [4].
Reddit (RDDT) Soars 12% on Bargain-Hunting, Key Execs Dispose of Shares