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Story summary
- Reddit Inc. (NYSE: RDDT) shares have surged over 100% in three months, driven by ad revenue growth above 80%.
- Institutional investors now hold over 34% of Reddit's shares, signaling confidence amid volatility.
- The stock fell 9% amid concerns over data usage by AI platforms like ChatGPT.
- Reddit Q2 revenue reached $499.63 million, up 77.9% year over year, beating expectations.
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