Piper Sandler "ignites" Reddit (RDDT.US): User growth in August up 8%, marking the strongest monthly increase of the year

Jit Tong Finance APP reported that Reddit (RDDT.US) surged about 6% on Thursday, ending a four-day losing streak. Previously, Piper Sandler stated that the social media platform’s average user number in August rose 8% month-on-month, marking the strongest single-month increase this year. Piper noted that user numbers dropped 2% in July, but the August Feed audience growth was enough to offset the decline in Conversation users. According to the firm’s analysis of Reddit Ads Manager data, the year-on-year growth rate of the total audience accelerated from 12.8% in July to 18% in August.