Reddit (RDDT) Stock Surges Late, Jumps Over 6% in After-Hours Trading
Reddit Inc (NYSE: RDDT) shares finished the May 2nd trading session with solid gains, but the real excitement happened after the market closed, with the stock experiencing a significant surge in extended hours. The social media company closed the regular session at 118.79 USD, marking an increase of 2.22 USD, or 1.90%.
The after-hours session saw considerably more dramatic action. RDDT shares leaped to 126.50 USD, representing a substantial additional gain of 7.71 USD, or a notable 6.49%, from the official closing price.
During the standard trading day, Reddit’s stock showed relative stability for most of the session before a dramatic spike occurred near the 4:00 pm closing bell, as seen on the intraday chart. The stock opened at 125.64 USD, slightly higher than the previous close of 116.57 USD, but quickly dipped, hitting an intraday low of 117.49 USD. It traded in a relatively tight range around the 120-122 USD level for much of the day before the late surge pushed it to a high of 126.10 USD just before settling at its closing price.
As a relatively recent addition to the public markets, Reddit stock has seen considerable volatility. The data shows a 52-week high of 230.41 USD and a 52-week low of 45.72 USD, reflecting the price action since its Initial Public Offering (IPO). Currently, the stock does not have a listed P/E ratio and does not offer a dividend yield.
