Reddit (NYSE: RDDT) shares rose by 19.4% this week, driven by the launch of new AI-powered advertising tools and favorable analyst reviews. As of Wednesday’s close, the stock had increased significantly.
At the Cannes Lions festival, Reddit introduced Reddit Community Intelligence, a tool analyzing over 22 million posts for advertisers, along with two new products: Reddit Insights and Conversation Summary Add-ons. The latter enhances ad visibility by integrating positive user content below ads. On Wednesday, the stock surged by 5.5% following a B. Riley report suggesting positive implications for Reddit due to Meta’s recent $14.3 billion investment in Scale AI.
