Reddit CEO Steve Huffman and other top executives and board members late Wednesday disclosed share sales, just a week after the social network had in its initial public offering. RDDT stock fell early Thursday.
Reddit CEO Steve Huffman sold 500,000 shares on Monday at an average $32.30 price, receiving $16.15 million. CFO Vollero Andrew sold 71,765 Reddit shares for $2.318 million. Chief Operating Officer Jennifer Wong sold 514,000 shares for $16.602 million.
Chief Technology Officer Christopher Slowe sold 185,000 shares for $5.975 million. Chief Accounting Officer Michelle Reynolds sold 3,033 RDDT shares for $97,966. Board member David Habiger sold 3,000 shares for $102,000.
All told, that's $41.245 million worth of Reddit shares sold.
At least some Reddit share sales by CEO Huffman and other key officers was expected.
Reddit Stock
Reddit stock fell 4.5% to 55.15 early Thursday. Shares tumbled 11.3% to 57.75 on Wednesday. Reddit hit a record 74.90 intraday Tuesday.
The RDDT IPO priced at 34 a share on March 20, at the top of the expected range.
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I fricking hate illiterate journos
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!writecel what's the correct way to write this in AP format?
At least some sales of Reddit shares were expected to be sold by Huffman et al
Huffman et al were expected to sell at least some of their shares
A sale of at least some shares was expected by Huffman et al
?????
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Are you confused between the Associated Press and the American Psychological Citation It's also not a ctation.
Usually, the active voice is preferable because it emphasizes the person taking the action, but in an article about Reddit's share price it's reasonable to emphasize the shares instead.
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