Reddit Stock Trends Higher On New Ad Partnership With Pacvue

Benzinga00:25

According to Rahul Choraria, CEO of Pacvue, the partnership aims to make Reddit’s consumer influence easier to “operationalize at scale.” Reddit currently attracts 121 million daily active unique ...

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According to Reddit for Business, 90% of users trust the platform for product discovery. \nThe Pacvue integration allows for enterprise-scale campaign management and advanced audience activation. Brands can now manage budgets and creative intelligence within a single governed system.\nThe surge coincides with a green day for the markets. The Nasdaq gained 0.47% while the S&P 500 rose 0.35%. The State Street Com Svc Sel Sec SPDR ETF (AMEX:XLC) also traded higher by 0.67%.\nRising Short Interest: Benzinga reports short interest in RDDT increased during the last period. Short interest rose from 17.15 million to 18.47 million shares. Currently, 15.7% of the company’s float is held short. 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