RedditNYSE: RDDT

Social media platform Reddit said on Tuesday it will update a web standard used by the platform to block automated data scraping from its website, following reports that AI startups were bypassing the rule to gather content for their systems.

Reddit NYSE: RDDT stock can rocket higher, and the rubberband strategy is one way to capture the gains. The rubberband strategy uses moving averages to target deeply oversold stocks that are ready to rebound, and if there are other factors in play, the rebound could be significant.

Social media site Reddit (NASDAQ: RDDT ) has one glaring problem that holds it back from getting ahead. Most of its users don't log into the platform but simply skim the comments.

In the closing of the recent trading day, Reddit Inc. (RDDT) stood at $56.48, denoting a -1.43% change from the preceding trading day.

Shares of Reddit (RDDT) are up almost 25% since its IPO debut in March. Needham & Company senior entertainment and internet analyst Laura Martin raised her price target for the company from $63 to $75, citing its new AI deal and more.

In the latest trading session, Reddit Inc. (RDDT) closed at $60.35, marking a -0.97% move from the previous day.

In a recent discussion on Reddit, users are debating the necessity of adjusting market cap definitions to account for inflation.

Reddit has achieved a sharp acceleration in both revenue growth, DAUs, and traffic. The company has achieved this through both speed improvements on its platform, plus translations into international languages. The company is also massively improving its adjusted EBITDA margins.

Reddit reported strong Q1 FY24 earnings with revenue growing 48% YoY, led by advertising revenue and data licensing agreements. The company saw 37% growth YoY in Daily Active Uniques as it continued to drive robust product innovation to improve search and moderation capabilities, thus deepening user engagement. The partnership with OpenAI will not only accelerate data licensing revenue, but may also drive higher ad spend from improved user engagement.