Traders Flee These 10 Stocks Today

4. Reddit, Inc. (NYSE:RDDT)

Reddit Inc. snapped a five-day winning streak on Thursday, dropping by 9.36 percent to end at $113.59 apiece as investors booked profits following the consecutive days of price surge, which analysts said were just buoyed by “meme moves.”

In recent news, Reddit, Inc. (NYSE:RDDT) has been linked to its co-founder’s recent acquisition of a 10-percent stake in the Women’s Super League, Chelsea Football Club.

While the acquisition does not directly impact the trading performance of Reddit, Ohanian’s presence in other industries could support further visibility for Reddit, Inc. (NYSE:RDDT).

During the first quarter of the year, Reddit, Inc. (NYSE:RDDT) swung to a net income of $26.2 million from a $575.1 million net loss in the same period last year.

Revenues also jumped by 61 percent to $392.4 million from $243 million year-on-year.

For the second quarter of the year, Reddit, Inc. (NYSE:RDDT) is targeting to hit between $410 million and $430 million in revenues, with an adjusted EBITDA range of $110 million to $130 million.