Reddit stock (RDDT) surged 33% year-to-date with positive growth potential and revenue increase

From Nasdaq: 2024-09-30 12:31:00

Reddit’s stock (RDDT) has surged 33% year-to-date, outperforming the Computer and Internet – Software sectors, thanks to a robust user base growth of 342 million, with 91 million daily active users and new features like Ask Me Anything. Ad revenue increased 41% in Q2, with new partnerships and international expansion plans.

In Q3, Reddit expects revenues between $290 million and $310 million, with the stock currently rated as Hold due to high valuation metrics. Meanwhile, Zacks names a top semiconductor stock with significant growth potential in AI, ML, and IoT markets, projected to reach $803 billion by 2028. The stock offers strong earnings growth in a booming global semiconductor industry.



Read more at Nasdaq: Reddit Surges 33% Year to Date: To Buy or Not to Buy the Stock?