RY 133.62 0.2325% TD 80.66 0.3608% SHOP 96.69 -2.3432% CNR 170.96 1.5503% ENB 49.46 1.228% CP 112.45 0.196% BMO 126.9 -0.2672% TRI 208.55 -0.2583% CNQ 106.0 0.5406% BN 54.95 -1.0267% ATD 77.31 -0.3609% CSU 3649.3 -1.2892% BNS 63.12 -1.5596% CM 64.92 -0.3683% SU 54.025 0.4369% TRP 49.43 0.5288% NGT 59.66 12.8428% WCN 226.31 -0.593% MFC 31.94 -0.6532% BCE 44.92 -0.817%

mid-cap

Is this the right time to exit from Reddit Inc (RDDT)?

Mar 28, 2024 | Team Kalkine
Is this the right time to exit from Reddit Inc (RDDT)?

Company Overview

Reddit serves as a global digital city where individuals worldwide can connect, learn, and engage in a multitude of activities within diverse communities. Like citizens in a physical city, Reddit users participate in various subreddits based on their interests, fostering meaningful discussions, and sharing experiences through posts, comments, and media uploads. With over 500 million visitors and an average of 73.1 million daily active uniques as of December 2023, Reddit acts as a dynamic archive of human knowledge and interaction, enabling users to seek advice, share discoveries, and build relationships.

Initial Public Offering

The company had launched its IPO on March 21st, 2024, under the ticker RDDT and had sold approximately 158,983,572 shares at USD 32.50 share. We had covered this IPO in our ‘Kalkine IPO Report’ on March 18, 2024, and had concluded that this IPO was “Attractive” given it given the financial performance of the company, increased global DAUq and revenue, market opportunity of RDDT, use of proceeds, and associated risks.

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Disclaimer-

The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.