Reddit Stock Appears to Be Another Victim of Social Media Addiction Trial Ruling as RDDT Falls Below 20-Day Moving Average

Reddit (RDDT) shares tanked on March 26 after a California jury found Meta Platforms (META) and Alphabet's (GOOG) (GOOGL) Google liable for social media addiction, awarding a plaintiff $6 million in damages. The ruling — which treats social media design as a defective product — sent shockwaves through the sector. As a result, RDDT sank below its 20-day moving average (MA), signaling a breakdown in short-term bullish momentum. More News from Barchart Year-to-date, Reddit stock is now down nearly 50%, bu ...