markets

Tom Jones3/11/25

Reddit shares got absolutely smoked compared to social media rivals like Meta and Snap yesterday, dropping 20%

Yesterday, Reddit shares suffered their worst drop since going public just under a year ago, as the platform’s rocky start to 2025 continues. After a pretty remarkable 2024, the stock is now down more than 35% so far this year.

With market misery across the board on Monday — the S&P 500 suffered its worst day of 2025 and the Nasdaq 100 notched its worst session since 2022 — Reddit wasn’t alone in falling, but the scale of its descent did separate it from the wider pack... especially compared with peers in the socials space.

Reddit stock drop chart — Sherwood News

While there were drops for Meta, Snap, and Pinterest, none suffered quite like Reddit, as the latest major social platform to go public proved most vulnerable to the whims of the market’s wider downturn. Reddit shares remain, at the time of writing, up ~113% from their IPO price last March.

Still, if you’re one of the execs at chat platform Discord reportedly eyeing your own potential IPO, Reddit’s recent woes might be enough to make you cast a downvote on getting to work on the idea anytime soon.

Reddit stock drop chart — Sherwood News

While there were drops for Meta, Snap, and Pinterest, none suffered quite like Reddit, as the latest major social platform to go public proved most vulnerable to the whims of the market’s wider downturn. Reddit shares remain, at the time of writing, up ~113% from their IPO price last March.

Still, if you’re one of the execs at chat platform Discord reportedly eyeing your own potential IPO, Reddit’s recent woes might be enough to make you cast a downvote on getting to work on the idea anytime soon.

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Tasha Matsumoto

Stocks dip for third consecutive day as Santa Claus rally stalls

Traders digested the minutes from the Fed’s December meeting.

SYDNEY, AUSTRALIA - DECEMBER 20: A Kodiak bear receives a Christmas treat at Taronga Zoo on December 20, 2007 in Sydney, Australia.

Matt Phillips10h

A 541% gain for Japanese chipmaker Kioxia makes it the “world’s best performing stock” this year.

That’s according to Bloomberg, which said Kioxia is the top performer in the MSCI World Index, a widely used benchmark for large and midcap stocks in developed markets.

Like domestic highfliers Micron and Sandisk, Kioxia specializes in making NAND flash memory chips, which are crucial to long-term permanent storage of digital data.

Massive amounts of storage are needed for the repositories of images, videos, and text files, to name a few formats, which AI uses to generate responses for users. As a result, the AI investment boom has sent prices for NAND flash up sharply, along with the stock prices of companies that make it.

markets

Opendoor has erased all the gains made since September leadership changes as enthusiasm premium fizzles

If you bought Opendoor Technologies when the online real estate company revealed that Shopify COO Kaz Nejatian was coming in to serve as CEO, with cofounders Keith Rabois and Eric Wu joining the board of directors, you are underwater on that purchase.

Shares closed at $5.83 on Monday, below where they ended on September 10 ($5.86) before these management changes were announced after the close. That revelation sparked the biggest one-day gain in Opendoor’s history, with the stock up nearly 80% the next session to hit its highest level since 2022.

Of course, it’s still early days. These new leaders haven’t even reported results for a full quarter in which they’ve been at the helm.

But in looking at the factors that buoyed Opendoor the stock, it seems clear that the enthusiasm (and speculative appetite) that was omnipresent from mid-July through September has petered out. While some of this may be a function of the typically slowed holiday season, trading volumes have dipped to an average of about 62 million over the past 21 sessions, a level not seen since May. Similarly, over the past 21 sessions, call volumes are running at their lowest level since July.

markets

Max Knoblauch12h

Nio climbs as China announces extension of its trade-in subsidy to boost EV buying

China’s trade-in subsidies intended to boost EV and low-emission vehicle purchases will be extended into 2026, according to a notice by Chinese officials on Tuesday. Shares of Chinese EV maker Nio climbed more than 6% on Tuesday morning.

Prior to the notice, China had signaled it would be pulling the plug on many subsidies for its maturing EV sector.

The extended trade-in subsidies will provide consumers up to $2,850 to scrap their older vehicles and purchase a qualifying new energy vehicle. The EV stimulus plan is part of a broader $8.94 billion program intended to boost the purchase of new consumer goods including refrigerators, smartphones, and washing machines.

Chinese EV Stocks Rise on Trade-In Subsidy Extension to 2026 | EV

Chinese EV Stocks Rise on Trade-In Subsidy Extension to 2026 | EV

The extended trade-in subsidies will provide consumers up to $2,850 to scrap their older vehicles and purchase a qualifying new energy vehicle. The EV stimulus plan is part of a broader $8.94 billion program intended to boost the purchase of new consumer goods including refrigerators, smartphones, and washing machines.

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Rani Molla, Jon Keegan12h

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