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Reddit Overtakes Snap In Market Value After Election Day Rally

Benzinga ·  Nov 6 21:58

Reddit Inc(NYSE:RDDT) has turned the tables onSnap Inc(NYSE:SNAP) in social media rankings, climbing 12% on Election Day to reach a market cap of $21.5 billion, ahead of Snap's $20.4 billion.

This milestone is a striking achievement for Reddit, which, despite having one-fourth of Snap's user base and revenue, has investors far more bullish on its prospects.

Snap's Diminishing Spark: Stuck In A Growth Rut

For Snap, this recent development highlights an ongoing struggle to secure its footing in the competitive social media space. Snap's trading price of just over $12 per share reflects investor...

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