RDDT Is Down 50% This Year. The Fundamentals Don’t Agree With the Chart — and That’s the Whole Story
There’s something almost absurd about Reddit’s situation right now. The platform’s revenue grew 69.7% year-over-year. Net income is $529.72 million on a trailing basis. Gross margins are 91.18%. The company is sitting on $2.48 billion in cash with barely $23 million in debt. By most operating metrics, Reddit is doing exactly what a growth company … Read more