Loop Capital downgrades Reddit stock to Hold amid valuation concerns: Is it time to cash out?

On Tuesday, Loop Capital analysts downgraded Reddit Inc (NYSE: RDDT) from Buy to Hold, triggering a more than 3% drop in pre-market trading. The downgrade was driven by concerns over Reddit’s valuation, despite Loop Capital maintaining a price target of $75. Since its March IPO, Reddit’s stock has more than doubled, propelled by robust growth […]