Why Is Reddit Stock Trading Higher Today?

Shares of Reddit, Inc. (NASDAQ: RDDT) are trading higher, up 1.83% to $140.66, following a tentative court ruling in favor of the company in its lawsuit against Anthropic regarding the unauthorized use of Reddit posts for AI training. Despite this increase, Reddit's stock remains 26.7% below its 100-day simple moving average and is 49.9% below its 52-week high of $282.95. Over the past year, shares have gained 30.35%, but are currently closer to their 52-week lows.