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Reddit Earnings Forecast Spark Community Debate About Platform's Value
Reddit Inc (NYSE:RDDT) reveals its first-quarter earnings today (Tuesday). Wall Street expects -$8.71 in EPS and $212.83 million in revenues as the company reports after market hours.
The stock is up 1.74% over the past month and up 2.72% over the past five days. After the stock’s initial plunge post-IPO on March 21, it hadn’t moved much. Reddit stock investors now pegged their hopes on the first-quarter earnings to move the needle.
As Reddit’s earnings announcement loomed, discussions on r/wallstreetbets were heating up with users like Capable-Jicama2155 advocating for a bullish stance on the platform’s future.
Despite Reddit’s status as the third most-visited website in the U.S., its market cap sits at a modest $7 ...