PINS - Reddit: A Potential Meme Stock Itself

2024-03-22 09:15:18 ET

Summary

• Reddit, Inc. shares have had a strong public debut, potentially making it a meme stock itself.
• The platform has a large and engaged user base, with 76 million daily active users participating in various communities.
• The company's valuation is reasonable based on its sales multiples, but it still faces risks such as fluctuating user base and reputation damage, while some margin work remains.

Shares of Reddit, Inc. ( RDDT ) have seen a very strong public debut , as its shares have risen in a convincing manner on the first day of trading. A limited float and enthusiasm could make the enabler of meme-stocks in the past a potential meme-stock itself....

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