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Here's Why Reddit Stock Went Up 18% Last Month

TheMotleyFool

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Here's Why Reddit Stock Went Up 18% Last Month: https://g.foolcdn.com/editorial/images/782455/a-woman-raising-her-arms-in-triumph-in-front-of-a-computer.jpg

Shares of social media platform Reddit (NYSE: RDDT) went up 17.8% in June, according to data provided by S&P Global Market Intelligence.

It was an interesting month for sure, considering there wasn't much news to report. But the company only went public back in March. And it can take several months of trading to settle down.

The reason for this is investors and analysts are still trying to figure what they believe the business is worth. For example, Needham analyst Laura Martin raised her price target for Reddit stock to $75 per share on June 18, according to The Fly.

Source Fool.com

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