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Reddit Inc (NYSE:RDDT) stock is trading lower on Thursday. The decline follows a period of small executive stock sales, and broader market volatility is also pressuring the stock.
Broader Market Weakness
The social media platform faces headwinds from a declining tech sector. On Thursday, the Nasdaq dropped 1.35%. Similarly, the S&P 500 shed 0.99%. Reddit is underperforming these major indices today as all high-growth stocks are taking a beating, with investors rotating out of high-growth tech stocks.
Insider Sales Impact Sentiment
Recent SEC filings show insider selling by Reddit executives. Chief Technology Officer Christopher Brian Slowe sold 2,000 shares in a transaction executed on Thursday, totaling about …
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