On July 27, Reddit rose 5.13% in regular trading, trading at $176.74/share, with turnover of approximately $60.15 million. The rebound comes as multiple institutions expressed bullish views on the stock following a sharp decline of over 9% earlier in the week.

On the news front, Reddit had previously dropped after reports surfaced that the company was considering terminating its annual $60 million content licensing agreement with Google for AI training purposes. However, sentiment quickly reversed as Wedbush Securities initiated coverage with an Outperform rating and a $250 price target, while William Blair added Reddit to its focus stock list. Wedbush cited faster US user growth approaching the 100-million daily active user target, improved advertising tools including search ads and Dynamic Product Ads, and stronger AI licensing terms as key growth drivers.

Additionally, Reddit is scheduled to report Q2 earnings on July 30. Market consensus expects revenue of approximately $730 million, representing 71.43% year-over-year growth, with adjusted EPS of $0.95, up over 400% year-over-year. Agency surveys also indicate Reddit continued gaining share in the social media advertising market during Q2.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)