Why Reddit Inc’s (RDDT) Stock Is Up 10.39% (2024)

Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate Reddit Inc before investing.

In this article, we go over a few key elements for understanding Reddit Inc’s stock price such as:

Before we jump into Reddit Inc’s stock price, history, target price and what caused it to recently rise, let’s take a look at some background.

Reddit, Inc. operates a social platform, Reddit. The Company operates mobile applications and a Website that allows users to form communities and create and share content. Reddit is focused on bringing community, belonging, and empowerment to everyone in the world. Reddit is a global, digital city where anyone in the world can join a community to learn from one another, engage in authentic conversations, explore passions, research new hobbies, exchange goods and services, create new communities and experiences, share a few laughs, and find belonging. Reddit has thousands of communities, endless conversation, and authentic human connections. Reddit offers real-time access to evolving and dynamic topics, such as sports, movies, news, fashion, and the latest trends.

Want to learn more about Reddit Inc’s stock? Click the button below to subscribe to A+ Investor and get access to everything you need to know about Reddit Inc.

As of July 02, 2024, 4:00 PM, CST, Reddit Inc’s stock price was $73.51.

Reddit Inc is up 10.39% from its previous closing price of $66.59.

During the last market session, Reddit Inc’s stock traded between $62.20 and $66.69. Currently, there are 163.35 million shares of Reddit Inc stock available for purchase.

Unfortunately, Reddit Inc’s P/E ratio is not significant enough to use for stock price evaluation. We recommend investors evaluate other financial metrics to understand its overall valuation.

Reddit Inc’s (RDDT) price is currently up 15.06% so far this month.

During the month of July, Reddit Inc’s stock price has reached a high of $73.52 and a low of $62.20.

Over the last year, Reddit Inc has hit prices as high as $74.90 and as low as $37.35.

Sign Up to Receive a Free Special Report Showing How A+ Grades Can Help You Make Smarter Investment Decisions

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of July 01, 2024, there were 0 analysts who downgraded Reddit Inc’s stock and 1 analyst who upgraded over the last month.

Additionally, you'll want to evaluate Reddit Inc’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on Reddit Inc’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

Learn how to evaluate stocks with AAII Grades and Scores with A+ Investor today.

Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about Reddit Inc (RDDT) by visiting AAII Stock Evaluator.

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of July 01, 2024, Reddit Inc has a weighted four-quarter relative price strength of %, which translates to a Momentum Score of and is considered to be NA.

Want to learn more about how Reddit Inc is graded based on AAII’s composite scores for value, growth, quality and earnings estimate revisions? Subscribe to A+ Investor today.

As of July 2, 2024, Reddit Inc’s stock price is $73.51, which is up 10.39% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like Reddit Inc stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

Subscribing to AAII's A+ Investor provides access to comprehensive analytics and insights for confident investing.