Reddit Stock Jumps as Social Media Shares Climb [Video]

Shares of Reddit (RDDT) jumped Monday, outpacing other social media companies’ rising shares to start the week.

Reddit, known largely as a platform for lively communities of individual investors, was up nearly 6% to $68.50 as of 1 p.m. ET Monday. That beat the gains seen by other social media companies: Facebook and Instagram parent Meta Platforms (META) was up about 2.3%, while Pinterest (PINS) was up nearly 1.5% and Snapchat parent Snap (SNAP) rose about 1.9%.

Truth Social owner Trump Media & Technology (DJT) was down about 1.2% as investors recalibrated their expectations about the U.S. presidential campaign following President Joe Biden’s Sunday announcement that he would leave the race.

Reddit on Monday announced partnerships with the NBA, NFL, and other major U.S. sports leagues that will give its users access to official highlights and other content.

The news also comes …