Reddit shares jump 7% after Piper says August users up 8%
Reddit shares rose about 7% on Thursday, snapping a four-session losing streak. Piper Sandler said Reddit’s average users grew 8% month over month in August, after a 2% decline in July.
Reddit shares climbed about 7% on Thursday, ending a four-session losing streak, after Piper Sandler said the social media platform's average users rose 8% month over month in August, its strongest monthly increase this year. Piper said the August gain followed a 2% decline in July.