Is Now the Time to Buy Reddit Stock?
Shares of social media giant Reddit (NYSE: RDDT) have been on a rocketship since its IPO in March. The stock debuted at $34 per share and closed the day up 48%, but that was nothing compared to what was to come.
On Dec. 9, shares hit a jaw-dropping 52-week high of $180.74, a massive 432% increase from its IPO price. The stock could go even higher, especially since the fourth quarter is historically when Reddit sees increased consumer usage and revenue.
Does that mean now is the time to scoop up shares? Before deciding to buy, let's first assess whether Reddit makes a worthwhile long-term investment. If so, then it's time to consider whether now is the time to purchase shares.
Source Fool.com
