Why Did Reddit Stock Jump?
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Reddit (RDDT) stock rose 7.1% on Wednesday, November 11, 2026, while the S&P 500 gained 1.3%. There was no earnings report from the company around the move, and the other large companies in its sub-industry, interactive media and services, rose by a median of 0.9%. So what else was going on in the market, and in Reddit’s own business?
What Was Going On Around Reddit Stock?
U.S. stocks rose broadly that Wednesday after CoreWeave’s earnings update eased worries that artificial-intelligence profits would not come soon enough to cover infrastructure debt. Reddit itself makes its money from advertising. In the third quarter of fiscal 2026, advertising revenue was $847 million of the company’s $895 million in total revenue.
The stock has swung hard since that quarter’s results. On its October 29 earnings call, management said search referral traffic was down meaningfully, and that daily users could fall by a low double-digit percentage in the fourth quarter if the decline kept its pace. Reddit stock fell 29% the next day, October 30. Since then the shares have moved in both directions, rising 6.0% on November 9 and falling 2.1% on November 10, the session before Wednesday’s gain.
Reddit Rose Far More Than Most Interactive Media Stocks
Most of the larger interactive media and services companies rose as well. Seven of the nine other companies in the sub-industry with a market value of $2 billion or more gained, and only one rose 5% or more. The SPDR sector fund for communication services, XLC, rose 0.8%.
Among the companies Trefis tracks as Reddit’s peers, Snap rose 6.8%, close to Reddit’s gain, while Meta Platforms fell 2.0%. Reddit rose more than each of its five peers.
Where Does Reddit Stock Stand Now?
A rise like this is not rare for Reddit. The stock gained at least as much in 12 sessions over the prior 365 days, and its last move this large was a 7.9% fall on November 5.
The shares are still down 48.3% over the past twelve months, against a 12.8% gain for the S&P 500. Their highest close in that year was $258.93 on January 13, and their lowest was $90.97 on November 2. Much of the fall is recent, with the stock losing 32.0% in the month to November 11.
Even so, Reddit trades at 6.6 times its sales over the past twelve months, against 3.2 times for the S&P 500. Reddit is expected to report its fourth-quarter results in February 2027. The number of daily users, which management warned could fall in that quarter, is the measure to watch.
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