Reddit shares rise as Google data-deal renewal fears ease
Reddit shares climbed after Baird analyst Colin Sebastian said Google data-sale contracts expiring early next year are largely priced in for a weak or flat renewal.
Reddit's contracts to sell its data to Google expire early next year, and one Wall Street analyst said he is not alarmed. Shares of the social-media company rose on Wednesday after Baird analyst Colin Sebastian said the market has already “largely priced in” a weak or flat renewal.