Reddit (RDDT) stock declines 3.6% amid rising Treasury yields and profit-taking.

In the past 24 hours, Reddit's stock (RDDT) experienced a 3.6% decline, closing at $154.57. This downturn was influenced by a 4 basis point increase in the U.S. 10-year Treasury yield to 5.27%, which elevated discount rates for long-duration equities. Additionally, profit-taking in the communication services sector, which saw a 1.5% drop, contributed to the stock's decline. Despite this, Needham analyst Laura Martin maintained a "Buy" rating with a $300 price target, citing positive web traffic data indicating strong user and revenue growth for Q3 2026.

AI-generated from public news sources. Not financial advice.