Reddit stock plunges 30% after weak outlook, heads for worst day ever

Reddit shares fell roughly 30% after the company issued a weak forward outlook, putting the stock on track for its worst single-session performance since its public listing. The move is primarily a company-specific earnings and guidance repricing rather than a macro shock, but it transmits to the broader market through growth-equity sentiment, since high-multiple social and advertising-linked names are being repriced for slower revenue expansion. Digital advertising peers and consumer internet stocks are the most directly exposed, as investors reassess whether ad-market softness is spreading beyond Reddit's own execution issues. The next key checkpoint is the quarterly advertising-spend commentary and the upcoming ad-revenue guidance from larger platform peers, which will indicate whether this is an isolated miss or a sector-wide demand signal.

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