Is Reddit Stock Finally Too Cheap to Ignore?
The popular online forum had a blowout quarter, but some questions remain unanswered.
Overview
The only safe bet ahead of Reddit (NYSE: RDDT) posting fresh financials on Thursday afternoon was that the stock would be on the move. The company behind the wildly popular online forum posted better-than-expected results after the market close on Thursday. The stock did move on the news, but not in a way that Reddit investors wanted.
Reddit stock was trading more than 10% lower in the hours after its second-quarter results. The numbers were solid, but naturally, posting its eighth consecutive quarter of topping 60% top-line growth and profits more than doubling weren't enough. This seems like a golden opportunity to consider Reddit, with shares trading at a steep discount to its recent growth rate.
Details
Let's dive into the actual numbers. It also makes sense to size up the knocks from this report, since the performance clearly wasn't well received by the market. Reddit or not, here I go.
Source
Originally published at www.fool.com.