Reddit Shares Volatile Amid Advance's $1.2B Stake Sale Plan

Advance Magazine Publishers plans to sell up to $1.2 billion worth of its Reddit shares, causing concern among retail investors about potential price drops. The sale involves 7.8 million shares priced between $145.38 and $148.54, below the current trading price of $158.02. Advance aims to use the shares as collateral for a credit facility while retaining control through derivatives. The impact on Reddit's stock price depends on Advance's ability to meet its loan obligations.