Reddit is Becoming Illiquid

Once again, the volume is dying off. Each day this week, we saw less and less volume being traded. Today had the lowest daily volume we have seen. Are traders done with this ticker? Or are they just waiting for the price action to pick a direction?

You can see the barcoding in the charts. When you see multiple gaps in price, candles with only one transaction, and multiple dojis with long wicks, then you are seeing barcoding price action. This happens when there is not a lot of buying and selling going on.

Even though there were over 2 million shares traded, the chart is still printing barcodes. RDDT is becoming an illiquid ticker.

Personally, I never touch illiquid tickers unless I am anticipating a quick day trade. Like you would see with the low-priced runners that rip in premarket and after-hours trading. Illiquid tickers can not gain any momentum in either direction as there is no volume to provide the inertia.

The poll has ended. Most voters were bearish towards RDDT this week. Reddit actually had a neutral week with low volume and very little movement. Check out the results of the poll directly below.