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International Business Times UK
International Business Times UK
Business
Niloy Chakrabarti

Reddit Shares Surge Over 8% After Launching New AI Marketing Tools at Global Event

Reddit Donald Trump United States
Reddit unveiled the AI features at a global event for creators and advertisers. (Reddit mobile app) (Credit: Brett Jordan/Unsplash)

Reddit (NYSE:RDDT) stock jumped over 8% in early Tuesday trading before slightly retreating to £100 ($135) per share after the social media company announced the launch of AI-powered marketing tools called Reddit Community Intelligence at the Cannes Lions International Festival of Creativity in France.

Trading volumes soared to above 19.6 million shares, more than double the daily average trading volume of 8.3 million shares. Reddit said that the new AI product suite is driven by an engine developed through the analysis of over 22 billion posts and comments on the social media platform to help brands make smarter marketing decisions.

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