Reddit Slips as Social Media Trade Splits Amid Snap's 4% Rise

Monday afternoon saw the social media trade split, with three of its four biggest U.S.-listed names rising while the sector’s marquee fund slipped into the red. Among these companies, Snap Inc.’s stock led the way, increasing by a notable 4% to $5.47 per share. This significant intraday move for the smallest company in the cohort occurred without any fresh announcements from the company itself.