Shares of Reddit jumped in premarket trading Friday, a day after the social media company reported better first-quarter results than expected and issued a strong outlook.

Reddit (NYSE: RDDT) recently announced its Q1 earnings, reporting a profit of $0.13 per share on revenue of $392 million. This exceeded market expectations of $0.01 per share and $370 million in revenue.

Social-media platform’s daily active unique users were up 31% from a year earlier.

The US stock market has been on a rollercoaster during President Donald Trump’s second term. The S&P 500 posted its third worst 100-day start to a presidential term in US history, only behind Gerald Ford and Richard Nixon.

This is Biden’s Stock Market, not Trump’s,” he wrote, placing the blame squarely on his predecessor. “I didn’t take over until January 20th.” He added: “Our Count

"That will work now," Sen. Thom Tillis said of Trump blaming Biden for the stock market. "It won't work six months from now."