Reddit stock plunges 29% after weak outlook, wrapping its worst day ever

Reddit experienced a sharp decline in its stock price on Friday, with shares dropping 29.22% in what constituted the steepest single-day loss since the company went public in 2024. The previous record decline had occurred on July 31, when the stock fell 20.99%.
The sell-off followed the company’s fourth-quarter guidance released on Thursday, in which Reddit projected sales between $1 billion and $1.03 billion. This projection fell below analyst expectations of $1.05 billion. While the company