NYSE:RDDTInteractive Media and Services
Reddit Buyback And UK Fine Put Valuation And Risks In Focus
Reddit (NYSE:RDDT) has approved a $1b share repurchase program, aiming to buy back its own stock over time.
The company has also been fined £14.47m by the UK's Information Commissioner's Office for child data privacy violations.
These developments come as Reddit's share price stands at $136.0 after a 9.6% gain over the past week and a 43.8% decline year to date.
Reddit's recent moves present a mixed picture to consider. On one side, the $1b buyback signals that management is prepared to...