RDDT · PEAD ↓ 100

Reddit reported Q2 2026 EPS of $1.25 on 2026-07-30, beating the $0.99 consensus by $0.26 (+26.3%).

Print-day reaction was essentially flat at +0.03% versus the prior close — a beat of that magnitude producing near-zero price movement signalled the result was already in the price or fell short on some other dimension. The overnight gap to the T+1 open was a sharp -17.0%, indicating significant selling pressure materialised after hours. Over the following two trading days (T+1 close through T+3 close) the stock recovered partially, drifting +13.7%, but not nearly enough to offset the gap-down. Cumulative abnormal return of -15.9% versus SPY.US puts this firmly in PEAD short territory; per the documented drift pattern, the read is held through 2026-10-27.