US Stock Market Move | Reddit (RDDT.US) rose over 10% in early trading, hitting a five-month high.

On Wednesday, Reddit (RDDT.US) rose more than 10% in morning trading, reaching a five-month high and currently trading at $192.22. On the news front, Reddit's international growth is still in the "early stages," according to Chief Financial Officer Drew Vollero, who stated that the company is currently focusing on three key priorities to increase active independent users. So far, this strategy has shown some initial success, with the company reporting a 17% year-on-year increase in daily active independent users in the first quarter. Vollero said, "Increasing daily active independent users is a major focus for us." He mentioned CEO Steve Huffman's goal of increasing user engagement with Reddit on a daily basis. "As we think about how to drive this metric, I believe the key lies in improving three areas: reach, frequency of use, and depth of engagement. Reddit currently has a strong reach, but there is still more to be done in increasing its 200 million weekly active users in the US and 500 million weekly active users globally."