Reddit shares are powering higher. Why is RDDT stock up today?
What Is Driving Reddit’s Stock Movement Today?The stock has been sensitive to rates after May's jobs report showed 172,000 payrolls added versus 80,000 expected, a surprise that pushed the 10-year yield above 4.5% and weighed on high-multiple growth valuations. Separately, Reddit was passed over for S&P 500 inclusion in the latest rebalance, disappointing investors who had been positioning for forced passive-fund buying.Reddit is also holding its Annual General Meeting today, with investors listening for updates on user growth and the status of AI licensing renewals with Google (NASDAQ:GOOGL) and OpenAI.Critical Price Levels To Watch For RDDTMomentum is improving: MACD is above its signal line and the histogram is positive, which typically signals that downside pressure is easing and buyers are gaining traction versus the prior downswing. In plain English, MACD compares two moving averages, and being above the signal line suggests momentum is shifting in favor of the bulls rather than accelerating lower.From a level standpoint, bulls generally want to see price hold above nearby support and then work back toward the longer-term trend line overhead, especially after the recent swing low in March and swing high in June.
