r/wallstreetbets Apr 29, 09:02 PM
Trade what you know. Long Reddit forever Peter Lynch said to buy what you know, and like you, there's nothing I do more then waste my life on this app.
Meta is worth 1.7T, Reddit is worth 28B. Make it make sense. Reddit's earnings are tomorrow and it's clear to me they're going to continue to crush it. The fact that they're trading near where they were a year ago when they were unprofitable and with significantly less users is unconscionable.
Earnings are tomorrow and has beaten EPS and Revenue estimates every time. The only reason they are down lately is because of misunderstood stock based compensation, nonsense about LLMs lowering search volume, and some third rate sites showing pageviews are down.
Literally last quarter they beat earnings by a third, revenue is up 70% year over year, yet people are still fading. The AI battles are still ongoing and Reddit, “the most human place on the internet" is going to be robbing all the frontier labs by selling the only datastream that isn't polluted with a billion chatbots.
It is really not unreasonable to expect this to go back to $300 and then higher. There is no other place on the internet like Reddit.
Also, spez is back to posting regularly, bullish to have a CEO actually paying attention and in the trenches with us.
Hedging with EPS miss shares on polymarket in case the trend breaks, they're pretty cheap so don't need too many, but the market is thin
Positions:
$29K in long RDDT shares (bought at $155 in the recent run up, so slightly down)
$5500 in $200 calls for October
1522 shares of EPS miss on Polymarket
submitted by /u/Only_Addition_9379
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