Stock Track | Reddit (RDDT) Stock Soars 7.79% as Service Outage Resolves

Stock Track11-21

Reddit, the popular social media platform, experienced a surge of 7.79% in its stock price on Thursday, reflecting a rebound from the technical issues that plagued the company's services in the preceding days.

The stock's surge came after Reddit successfully rolled out a fix for a software bug that had prevented tens of thousands of users from accessing the platform on Wednesday. The outage was confirmed by Downdetector.com, a website that tracks service disruptions, which reported over 70,000 outage reports for Reddit during the incident.

As Reddit's technical team worked to resolve the issue, investors responded positively to the company's swift action, driving up the stock's value. The stock's rebound signaled confidence in Reddit's ability to maintain the stability and reliability of its platform, which is crucial for retaining its user base and driving engagement.

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