🔴 Reddit is trading 29.7% down today on weaker-than-expected fourth-quarter revenue guidance

Reddit is trading at $92.31, down 29.7%, after weaker-than-expected fourth-quarter revenue guidance on October 29.

• Third-quarter revenue and earnings beat estimates; management warned daily active users could fall by a low-double-digit percentage if search referrals keep declining. October search referrals fell by over one million per week on average.
• Multiday slide extends from October 29's $129.60 close; analysts downgraded shares October 30. Trading was live at 3:50 p.m. EST; no reliable volume figure was provided.