Reddit Executives Sell Shares, Cause Overnight Decline in RDDT Stock

Shares of Reddit Drop as Insiders Sell Soon After IPO

Reddit CEO Steve Huffman and other top executives, along with board members, have sold shares of the company in a move that led to a decline in RDDT stock overnight. The news came just one week after the social network’s initial public offering.

Steve Huffman sold 500,000 shares at an average price of $32.30 for a total of $16.15 million. CFO Vollero Andrew sold 71,765 shares for $2.318 million, while COO Jennifer Wong sold 514,000 shares for $16.602 million. Additionally, CTO Christopher Slowe sold 185,000 shares for $5.975 million and Chief Accounting Officer Michelle Reynolds sold 3,033 shares for $97,966. Board member David Habiger also joined in the share sales and disclosed selling 3,000 shares for $1

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