We recently published a list of Why These 10 Firms Recorded Double-Digit Gains Last Week. In this article, we are going to take a look at where Reddit Inc. (NYSE:RDDT) stands against other firms that recorded double-digit gains last week.
Ten companies finished the past trading week on a high note, outperforming the three major indices with double-digit gains amid a flurry of catalysts, including upcoming earnings releases, that sparked buying appetite.
Week-on-week, the Nasdaq rallied by 6.7 percent, the S&P 500 clocked in a 4.59-percent gain, while the Dow Jones was up by 2.48 percent.
In this article, we have listed last week’s top 10 performing stocks and detailed the reasons behind their gains. The stocks were chosen based on the highest percentage increase in closing prices on April 25 as against their prices on April 17, or the week prior.
To come up with the list, we considered only the companies with a $2-billion market capitalization and a $5-million trading volume.
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Reddit Inc.
Reddit Inc. saw its share prices jump by 22.8 percent week-on-week to end at $118.10 on Friday versus the $96.16 registered on April 17 following news that it expanded its “Reddit Answers” interface into eight countries.
According to Reddit Inc., Reddit Answers is now available in Australia, Canada, India, Malaysia, Pakistan, the Philippines, Singapore, and the United Kingdom.
Reddit Answers is an Artificial Intelligence-powered interface that lets users ask questions and receive answers in a conversational manner. The new platform is accessible on its website, on Android, and on iOS.
Unlike generic AI chatbots such as ChatGPT and Gemini, Reddit Answers leverages data within the Reddit site.
Reddit Answers debuted in the US in December 2024 in a bid to improve the search experience by making it faster, smarter, and more relevant. So far, the interface platform only supports the English language.
Meanwhile, Reddit Inc. is scheduled to release the results of its operational and financial highlights after market close on Thursday, May 1, 2025.
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This article is originally published at Insider Monkey.