On June 5, Reddit fell 5.02% in regular trading, trading at $174.51/share with trading volume of $3.61 billion. The decline comes amid broad weakness across the Interactive Media & Services sector, with Alphabet down 0.92%, Meta Platforms down 2.21%, Baidu down 8.59%, and Pinterest down 2.06%.

Adding to selling pressure, a recent Form 144 filing disclosed that Reddit director and executive THE XYZ REVOCABLE TRUST intends to sell 108,000 shares worth approximately $18.11 million, having already reduced holdings by 90,000 shares over the prior three months. The stock had rallied over 10% in late May following the announcement of native Shopify integration and strong quarterly earnings showing 68% year-over-year revenue growth to $585 million and daily active users reaching 116 million, suggesting profit-taking may also be contributing to the pullback.

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