Reddit stock pared its losses in Thursday morning trading after a steep drop late Wednesday. The previously red-hot IPO stock took a hit after its fourth-quarter user growth total missed estimates, but at least one analyst is telling clients to buy the dip. On the stock market today, Reddit is down roughly 7% at 201.14 in recent action Thursday. Shares were down by more than 15% initially following the report late Wednesday. The stock is finding support near its 21-day moving average. Reddit shares had soared more than 300% in the 11 months since the company’s IPO, On Wednesday’s late drop represented Reddit stock “giving back some of its recent, considerable outperformance. Are the investors expecting too much from Reddit ?
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