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Vaishali Prayag

Reddit Shares Surge As App Downloads Spike: What's Going On?

London,,Uk,-,February,2021:,Reddit,Logo,Displayed,On,A

Reddit Inc. (NYSE:RDDT) shares are trading higher Monday, continuing a strong run driven by anticipated user growth and rising investor optimism.

What To Know: Similarweb on Monday highlighted a surge in app store downloads for Reddit in recent months, noting that adoption appears to be skyrocketing. Download volumes surged 77.98% in April compared to March, followed by another 47.92% month-over-month increase in May. The spike comes after a year of relatively flat app downloads growth.

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