Why Reddit Stock Inched Higher on Thursday
Internet discussion forum operator Reddit (NYSE: RDDT) was the talk of numerous investors on Thursday, and for the most part, the chatter was positive. The company's share price rose by nearly 1% -- good enough to notch an all-time high -- thanks in no small part to a bullish move from a researcher on Wednesday afternoon. That increase more or less matched that of the bellwether S&P 500 index that day.
That Reddit-tracking company was Jefferies, whose analysts reiterated their buy recommendation on the stock while slightly increasing their price target to $320 per share (formerly it was $300).
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Source Fool.com
