Sat. Jun 22nd, 2024
Shares of Reddit Drop as Insiders Sell Soon After IPO

In the wake of the Reddit initial public offering, CEO Steve Huffman and other top executives announced share sales late Wednesday. The subsequent decline in Reddit stock was a result of the sales, with RDDT stock falling overnight.

Huffman sold 500,000 shares at an average price of $32.30 for a total of $16.15 million. CFO Vollero Andrew also sold 71,765 shares for $2.318 million, while COO Jennifer Wong sold 514,000 shares for $16.602 million. Additionally, CTO Christopher Slowe sold 185,000 shares for $5.975 million and Chief Accounting Officer Michelle Reynolds sold 3,033 shares for $97,966. Board member David Habiger also joined in the sales by selling 3,000 shares for $102,

By Aiden Nguyen

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