Reddit joins forces with OpenAI

On Thursday night, Reddit (RDDT) experienced a significant increase in stock value due to a new partnership with Microsoft-backed OpenAI. This collaboration will enable OpenAI to access Reddit’s Data API and learn from the platform’s content in real-time. As a result of this partnership, both companies will become advertising partners and enhance their platforms with AI-powered features.

Reddit’s stock surged by 11% after hours to reach approximately 62.61, following the announcement of the partnership. The shares are currently working on an IPO base with a 74.90 buy point, although investors may consider using Tuesday’s high of 64.50 as an early entry point. Throughout the week, RDDT stock saw a 5.3% increase, with significant fluctuations implicated by meme stocks such as GameStop (GME) in various subreddits.

On the other hand, Microsoft (MSFT) also experienced a slight increase late on Thursday despite declining by 0.5% to 420.99. MSFT stock has a flat-base buy point of 430.82, and investors looking for an early entry point may consider a move above Thursday’s high of 425.42.

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By Sophia Gonzalez

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