Reddit stock went public at $34, rose to $74.90, revenue growth expected, challenges ahead.

From Nasdaq: 2024-04-07 05:15:00

Reddit (RDDT) went public at $34 on March 21, opening at $47 and closing at $74.90 five days later. Revenue rose 21% to $804M in 2023, with 73.1M DAUq, 27% growth YOY. Reddit targets 20% revenue growth in 2024, hoping to reach $2B revenue by 2028. Challenges include user monetization and content issues. Analysts predict 25% CAGR through 2026, but sustainability remains uncertain. Stock Advisor recommends other stocks over Reddit.



Read more at Nasdaq: Where Will Reddit Stock Be in 5 Years?