Is Reddit Stock Still a Buy?
The forums on Reddit (NYSE: RDDT) have made it one of the sensations of the social media world in recent years. Many of the forums provide information and help users answer questions, making them an excellent resource.
The company capitalized on this popularity when it launched its initial public offering (IPO) in March. Since then, Reddit stock has risen by more than 150%. Unfortunately for new investors, it may be unclear at first glance whether such gains are a reason to buy it, or whether they missed the boat and should avoid the stock.
Determining the right course of action requires a closer look at Reddit's business and its financials.
Source Fool.com
