Reddit (RDDT) is still heating up

RDDT is trending again today. adding fuel to our already bullish outlook.

Here’s what we did, and how we’re seeing this stock from here…

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We officially entered a bullish position before Thanksgiving when the stock pulled back on internal stakeholder headlines, when the stock was trading around $143.

Since then it's rallied as much as +25% higher, popping this morning after a key product update that leverages AI to answer user queries and an upgrade from Morgan Stanley.

Analysts cited Reddit’s strong engagement and advertising pipeline as key drivers of its future growth, flagging the platform’s potential to outpace its peers in user engagement, time spent, and advertising revenue growth.

We've been tracking Reddit's advertising prowess for some time now -- just look at the outsized growth in visits to its web platform vs. other more established peers.