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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-

Kalkine Equities LLC provides general information about companies and their securities. The information contained in the reports, including any recommendations regarding the value of or transactions in any securities, does not take into account any of your investment objectives, financial situation or needs. Kalkine Equities LLC is not registered as an investment adviser in the U.S. with either the federal or state government. Before you make a decision about whether to invest in any securities, you should take into account your own objectives, financial situation and needs and seek independent financial advice. All information in our reports represents our views as at the date of publication and may change without notice.

Kalkine Media LLC, an affiliate of Kalkine Equities LLC, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.