Reddit Shares Tumble as User Growth Disappoints. Is Now a Golden Opportunity to Buy the Stock?
While shares of Reddit (NYSE: RDDT) tumbled following its Q4 earnings report, the social media company's stock is still up a solid 20% year to date, as investors have embraced the stock after its March 2024 IPO. After debuting at $34, the stock is up more than five times in less than a year.Reddit describes itself as "a global, digital city where anyone in the world can join a community to learn from one another, engage in authentic conversations, explore passions, research new hobbies, exchange goods and services, create new communities and experiences, share a few laughs, and find belonging." I'd describe it more as a message board platform on various topics where users are allowed to stay anonymous. Let's take a look at the company's recent earnings report and guidance to see if this is an opportunity to buy the stock.Continue reading
While shares of Reddit (NYSE: RDDT) tumbled following its Q4 earnings report, the social media company's stock is still up a solid 20% year to date, as investors have embraced the stock after its March 2024 IPO. After debuting at $34, the stock is up more than five times in less than a year.
Reddit describes itself as "a global, digital city where anyone in the world can join a community to learn from one another, engage in authentic conversations, explore passions, research new hobbies, exchange goods and services, create new communities and experiences, share a few laughs, and find belonging." I'd describe it more as a message board platform on various topics where users are allowed to stay anonymous.
Let's take a look at the company's recent earnings report and guidance to see if this is an opportunity to buy the stock.
