On August 5, Reddit rose 5.09% in regular trading, trading at $162.67/share, with turnover of $603 million. The stock continues its recovery after a sharp 22% selloff following its Q2 earnings report.

On the news front, multiple institutions have reiterated optimistic ratings despite concerns over slowing US user growth and AI search reshaping traffic patterns. Wedbush maintains its Outperform rating with a $221 price target, while KeyBanc initiated coverage with an Overweight rating and $225 target. The underlying fundamentals remain strong: Q2 revenue reached $804.9 million, up 61% year-over-year and well above the $731 million estimate, while EPS of $1.25 beat the $0.95 consensus by over 31%. Q3 revenue guidance of $860-870 million also exceeded the Street estimate of $828 million. The combination of institutional support, valuation repair demand following the prior selloff, and robust earnings performance has driven the continued rebound.

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