In a welcome move, Reddit stock saw its Relative Strength Rating improve from 66 to 74 on Tuesday. The social media stock debut Mar. 21, 2024. Reddit is back in the limelight as Keith Gill's "Roaring Kitty" recently indicated in a post showing a $116 million bet on 2021 meme GameStop, sparking another run.
IBD's unique rating identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains tend to have an RS Rating of above 80 in the early stages of their moves. See if Reddit stock can continue to show renewed price strength and clear that threshold.
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Is Reddit Stock A Buy?
Reddit stock is not currently offering a proper buying opportunity. See if the stock goes on to build a base that could spark a new run. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The Calif.-based social media firm showed 0% EPS growth in the latest quarterly report, while sales growth came in at 48%.
Reddit stock holds the No. 15 rank among its peers in the Internet-Content industry group. Pinterest, Kanzhun ADR and Alphabet Cl C are among the top 5 highly rated stocks within the group.
