This Week in Markets: GDP Revision Up, Jobless Claims Fall, Reddit Slides Further

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Stocks Analysis by Investing.com (Davit Kirakosyan) covering: RH, Reddit Inc. Read Investing.com (Davit Kirakosyan)'s latest article on Investing.com

The final estimate for Q4 GDP growth in the U.S. is revised up to 3.4%, fueled by robust consumer spending and nonresidential fixed investment.

This continued trend of low unemployment benefit applications indicates a strong economic environment.) stock is falling for the second consecutive day as short-sellers reportedly set their sights on the company. Following its impressive debut last week, which saw a notable surge in its share price, the social media company attracted significant short-selling activity in its initial days on the market.

However, the company expressed optimism, anticipating demand trends to pick up throughout fiscal 2024. For the coming year, RH predicts a demand increase of 12% to 14% and revenue growth between 8% and 10%.

Source: News Formal (newsformal.com)

 

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