The Investment Committee discuss their latest portfolio moves. Bryn Talkington sells Devon Energy, Steve Weiss sells Transdigm, and Josh Brown talks about the new street high target for Reddit.
Building a business based on user-generated content has proven to be lucrative.
Reddit's (RDDT -7.18%) stock price has more than quadrupled since it went public eight months ago at $34 per share. The social media company dazzled investors with its rapid growth in users and revenue, and it turned firmly profitable in its latest quarter.
One of the hottest tech stocks cruising atop the market these days is Reddit (RDDT -7.18%). The company has seen its share price balloon by over 170% since its March initial public offering (IPO), with much of that rise coming after its late-October earnings release.
The run-up in the stock price has dramatically increased its valuation, leaving investors to question whether they are too late.
Reddit stock slid in Friday trading after a report that Advance plans to borrow against its stake. The post Reddit Slides On Report Advance Plans To Borrow Against Stake In Hot Social Media Stock appeared first on Investor's Business Daily.
Reddit (RDDT) stock sank Friday on a report Advance Magazine Publishers planned to borrow against its stake in the social media platform and regulatory filings disclosed Chinese conglomerate Tencent Holdings sold shares.
Reddit Inc (NYSE: RDDT) opened about 8.0% down on Friday after Tencent Holdings unloaded about $88.5 million shares of the forum social network. The weakness may also be related to a report that Advance Magazine Publishers is considering trimming its position on Reddit as well.
Reddit (NYSE: RDDT) has faced considerable volatility since its IPO in March 2024, fueled by its “meme stock” status. However, it has recently surged nearly 240% year-to-date, capturing significant investor attention.
The popular message board was unavailable on Wednesday and Thursday morning -- the company mentioned an update bug that could be the culprit.
The company had rolled out a fix for a software bug that prevented tens of thousands of people from accessing the social media platform on Wednesday.
Reddit struggled with a second day of usage problems, with tens of thousands of users reporting a Reddit outage on Thursday morning after the company acknowledged a bug in a recent update caused an outage Wednesday evening.