- Ring The Bell
- Posts
- 📲 Reddit Gets An Upvote
📲 Reddit Gets An Upvote
Reddit shares surge on the company's first earnings report. Plus, Celsius shares hit a cold spell.
Brooks Dyroff
May 07, 2024
Happy Tuesday, Zingernation! Saving money is easier said than done. If you’re like me, bringing your lunch to work won’t stop you from eyeing those $15 tacos from the food truck outside. But if you are able to save some cash, here’s where one financial expert says you should put every penny.
–Aaron Bry and Nic Chahine
Today’s Price Action:
$SPY: +.11%
$QQQ: +.02%
$DIA: +.07%
Plus, there's one recent AI development you NEED to hear about...
And, did someone forward you this email? Click here to subscribe to this Benzinga newsletter and more.
TODAY’S MOST VOLATILE STOCKS
TODAY’S TOP STORY
Briefly: Reddit reported its first-quarter financial results after the bell today. Here's a look at the highlights.
So Basically: Reddit reported quarterly losses of $8.19 per share, missing the analyst consensus estimate of losses $6.97 by 17.5%.
So Then: Quarterly sales clocked in at $242.963 million, beating the analyst consensus estimate of $212.83 million by 14.16%.
So What? The company reported record user traffic. Daily Active Uniques (DAUq) increased 37% to 82.7 million, while Weekly Active Uniques (WAUq) increased 40% year-over-year to 306.2 million.
Quoted: “It was a strong start to the year and a milestone quarter for Reddit and our communities as we debuted as a public company,” said co-founder and CEO Steve Huffman. “We see this as the beginning of a new chapter as we work towards building the next generation of Reddit.”
Click here to read more.
PRESENTED BY TRADESMITH
There's been a lot of buzz surrounding AI over the past year…
Most of it is just hype and speculation.
Because it's going to have a very real impact on the lives of everyday Americans...
Billion-dollar fund manager Louis Navellier recently recorded an urgent message going over all the details.
FIVE MOVERS
Rivian stock went on a wild ride today, trading higher on potential acquisition rumors, before trading off following its earnings report.
Upstart shares went down after the close, despite the company reporting better-than-expected EPS numbers.
Tesla shares slid in today’s session — and not in the cool Tokyo Drift fashion —as the EV giant temporarily shut down its Giga Factory in Germany.
Celsius stock hit a cold spell today following a weak earnings report and news that an insider sold almost $100 million in shares.
UBS shares spiked higher today, closing up more than 7% after the banking giant gave positive news regarding its acquisition of Credit Suisse.
ONE TRADE IDEA FOR TOMORROW
Briefly: After an 18-month gap, Apple unveiled the highly-anticipated iPad Air 6 and iPad Pro today at the "Let Loose" event.
What To Know: The iPad Pro is powered by the new M4 chip, jumping directly from the M2.
What Else: For the first time ever, the iPad Air 6 will come in two sizes. Apple also launched an updated Magic Keyboard and Apple Pencil at the event.
So What? With the new iPad Pro, the company is transitioning from mini-LED to OLED panels, offering deeper contrast and brightness. The iPad Pro 6 starts at $999, while the iPad Air 6 starts at $599.
Click here to read more.
PRESENTED BY TRADESMITH
There's been a lot of buzz surrounding AI over the past year…
Most of it is just hype and speculation.
Because it's going to have a very real impact on the lives of everyday Americans...
Billion-dollar fund manager Louis Navellier recently recorded an urgent message going over all the details.