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Reddit Stock Jumps in PreMarket Trading After OpenAI PartnershipReddit shares rose 14% on Friday following a partnership with artificial intelligence firm OpenAI, which is expected to attract more users and increase advertising revenue. The partnership allows Reddit to leverage OpenAI's technology to build tools and features, and integrate Reddit's content in real-time. This pact delivers on Reddit's "IPO promise of seizing opportunities to make more of AI," whether that's deploying the tech on its platform to improve the user experience or feeding its content into AI language models. Reddit ( NYSE:RDDT ), which primarily generates revenue from advertising, is seeking to diversify its income streams. In a February filing, the company indicated its intent to explore new monetization channels, including offering creator tools and licensing its data to third parties. Reddit already has data licensing agreements with undisclosed parties that are projected to contribute at least $66.4 million in revenue this year. The license allows third parties to access, search, and analyze data on the platform. With a daily active user count of more than 80 million, Reddit ( NYSE:RDDT ) is considered a smaller player in the social media market. The company went public on the New York Stock Exchange on March 21, and its shares have gained 66% from their IPO price of $34 a piece. Under the partnership, Reddit ( NYSE:RDDT ) will give OpenAI access to its API to train AI models in exchange for certain OpenAI-powered features being offered to Reddit’s users and moderators. Additionally, Reddit will add OpenAI as an advertising partner. Investors reacted warmly to the latest licensing partnership announced Thursday as it indicates the social media company continues to diversify revenue outside its traditional advertising business. OpenAI co-founder and CEO Sam Altman is no stranger to Reddit, having led the social media company’s $50 million Series B funding round in 2014 and investing an additional $60 million over two financing rounds at the height of the pandemic-era tech rally. Reddit shares ( NYSE:RDDT ) jumped out of the gate after listing in late March but quickly ran into selling pressure after more than doubling from their $34 initial public offering (IPO) price. A volume-backed breakout above the stock’s record high at $74.90 opens the door for the shares to move into uncharted waters and test higher price levels. Technical Outlook Reddit shares ( NYSE:RDDT ) is up 12% in Friday's Pre-market trading with a moderate Relative Strength Index (RSI) of 54.97 which is poised for further growth. The daily price chart depicts a bullish Harami pattern. An upside gapping will evolve as a result of the partnership news.
NYSE:RDDT
by DEXWireNews
Reddit Shares Jumped 7% on Tuesday Following Memestocks CrazeReddit shares ( NYSE:RDDT ) closed at $62.34, marking its second-highest close since its IPO in March. The rally began on Monday when Keith Gill, the man who inspired the meme stock mania of 2021, resurfaced online, sending shares of GameStop and AMC soaring. Gill shared a picture on X that showed a video gamer sitting forward on a chair, which is often used by gamers to signal they're taking the task seriously. As of Tuesday's close, the post has been viewed more than 25 million times. Reddit ( NYSE:RDDT ) played a central role in the meme stock boom three years ago, largely due to the forum WallStreetBets, where traders gather to share tips and, in some cases, band together to drive a stock up or down. GameStop mentions ballooned on WallStreetBets on Monday after Gill's post. The image and a series of other cryptic posts were enough to lift GameStop and AMC by more than 100% in the past two trading sessions. Other stocks that have been bunched in with the meme group rose, including BlackBerry, Koss, and SunPower. Notable Research Analyst Andrew Boone said he didn't see any fundamental reason for Reddit's rally, but an increase in user activity would help boost the company's advertising business. At the end of the day, more users mean more impressions, which means there are more ads for them to sell. Reddit, ( NYSE:RDDT ) founded 19 years ago, debuted on the New York Stock Exchange on March 21 at $34 a share and ran up as high as $65.11 on March 26. Technical Outlook Reddit Shares ( NYSE:RDDT ) shares closed Tuesday's trading session up 7.13% with a Relative Strength Index (RSI) of 60.60, slightly overbought. The 50-day Moving Average crosses the 20-day Moving Average, signaling the exhaustion of downward market momentum.
NYSE:RDDTLong
by DEXWireNews
Reddit Shares jump 10% After Revenue Pops in First-ever EarningsReddit shares ( NYSE:RDDT ) rose 10% after the social media platform posted strong revenue growth and improved profitability in its first earnings report since its market debut. The company surprised Wall Street with a forecast that it could post an adjusted profit in the second quarter, and its revenue outlook was far above estimates. Reddit's revenue for the first quarter was $243 million, a 48% increase from the $163.7 million it earned a year earlier. $222.7 million of this was from ad revenue alone, which was up 39% year-over-year. Meta's ad revenue jumped 27% in the first quarter, followed by a 24% increase at Amazon and just 13% growth at Google-parent Alphabet. Reddit reported a net loss of $575.1 million, with stock-based compensation expenses and related taxes being $595.5 million, primarily driven by charges due to the initial public offering. Reddit ( NYSE:RDDT ) expects revenue to be between $240 million and $255 million in the second quarter, topping the $224 million expected by analysts. The midpoint of the guidance range suggests growth of about 32% for the second quarter, up from $183 million from a year earlier. Analysts believe that Reddit ( NYSE:RDDT ) is still in the early stages of generating ad revenue and should benefit from expanded ad targeting and measurement tools. The company's more than 100,000 discussion forums have made it an attractive partner for companies looking to train their data-hungry AI models. Technical Outlook Reddit stock ( NYSE:RDDT ) is trading with a Relative Strength Index (RSI) of 50.62 a reversal might be possible after the earnings review the stock daily price chart shows a "Three Bearish black crows" which are are potential signs of a trend reversal.
NYSE:RDDTLong
by DEXWireNews
Reddit Shares Surged 38% Above IPO Price, Market Cap Nearly $9BIn a resounding debut on the New York Stock Exchange, social media powerhouse Reddit ( NYSE:RDDT ) saw its shares skyrocket 38% above its initial public offering (IPO) price, propelling the company's valuation to nearly $9 billion. The impressive market reception underscores investors' renewed appetite for promising yet loss-making companies and signals a potential resurgence in the IPO market. Investor Frenzy Amidst Losses: Despite Reddit's track record of annual losses since its inception in 2005, investors flocked to the company's IPO, enticed by its strategic positioning as a training ground for artificial intelligence (AI) programs. The recent data licensing deal with Google further fueled investor optimism, highlighting Reddit's potential for monetization beyond traditional advertising revenue streams. Growth Trajectory and Market Dynamics: Reddit's ( NYSE:RDDT ) growth narrative centers around its commitment to expanding its user base and community engagement, positioning itself as a growth-oriented company despite its financial losses. With shares trading well above its IPO price range and reaching late trading highs, Reddit's ( NYSE:RDDT ) market performance serves as a litmus test for investor sentiment towards high-growth, yet unprofitable, companies. Challenges and Roadmap to Profitability: While Reddit's iconic status in the social media landscape is undeniable, the company faces challenges in monetizing its platform and achieving profitability. Analysts and investors alike will closely scrutinize Reddit's strategy for achieving long-term profitability, particularly amidst intensifying competition from industry giants like Meta Platforms' Facebook and Elon Musk's X. Retail Allocation and Community Engagement: Reddit's decision to reserve shares for eligible users, moderators, and retail investors underscores its commitment to rewarding its dedicated community members. However, analysts caution that such retail allocations come with inherent risks, particularly in light of Reddit's fluctuating financial performance and uncertain path to profitability. Cultural Impact and Future Prospects: Beyond its financial metrics, Reddit's cultural impact and role as a cornerstone of social media culture cannot be overstated. From hosting iconic "AMA" sessions with notable figures like former President Barack Obama to serving as a hub for community-driven movements like the "meme-stock" saga of 2021, Reddit ( NYSE:RDDT ) occupies a unique position in the digital landscape.
NYSE:RDDTLong
by DEXWireNews
Moons Breakout - It’s here !As you can see, we are in a downtrend for few weeks now, most likely accumulation phase. We are starting to breakout out of this downtrend, remember that there’s low liquidity and the price can literally skyrocket. Current Market Cap is about 3 Million $ which is super undervalued for 3.1 Million members community(And growing!), each member that join Reddit CryptoCurrency will get exposure to Moons. It’s matter of time before we sit at 600 Million - 2 Billion $ Market Cap which is 10-40$ for 1 Moon !! Accumulate before Mainnet, only the smart investors will see this test net and lack of updates as an opportunity, if everyone knew that at X date the Mainnet will launch, all of the users will accumulate. Mainnet will come by surprise. Kraken and Bittrex showed interest in listing Moons, Reddit built an Ethereum wallet in their App so users can store Moons. No one is talking about Moons It’s not enough for you to see what’s going on? It’s a sleeping giant.
XLong
by WhaleSwimmer
7
Realistic Price Targets for GME if it Follows AMC Bar PatternI had multiple people ask me for GME price targets in my last post comparing the breakout in AMC to current GME pattern. The easiest way to compare the breakouts in my opinion is to use the Fibonacci tool. With that being said, we can see AMC ran all the way to a full fib extension when measuring from its last peak. If GME does the same thing, we can see it approach close to $2,000 and consolidating between the $1,200 and $2,000 range. - CA$HLESS
NYSE:GME
by CASHLESSSOCYS
2
AMC to the Moooon. Apes stonk together!For the first time in history, the average Joe can make a real fist against the financial system. In 2008 there where a lot of financial companies who were bailed out and lots of average Joe's had to pay the bill. The wound is still open, the debts were real, the houses they had to left, were real, the cars they had to live in, were real. Their PAIN is REAL. It's never bin more obvious as it is right now, you can feel it, the time for revenge is NOW. They are united in achieving their goal. This is not only for the possible gains, it is about showing the world the financial system is corrupt and our governments have to do something about it. Trading via Dark Pools was created to protect the market, now it's mostly used to move the price in the direction they want. Shorting a company was created to get too much air out of the price of a stock, now it is used to demolish companies only for their gains. It's time the wealth get more equally distributed over the people. No financial advise, but I love this movement and this stonk. Diamond Handed Apes stay strong!
NYSE:AMCLong
by JohanRD
7
Should You Buy This Hot Reddit Stock?After GameStop's spectacular short squeeze, investors are now wondering if other heavily shorted stocks that are popular among contrarian Reddit investors, such as CEL-SCI. As it turns out, discipline becomes paramount when the value of one's holdings goes up so high and so fast. CEL-SCI is a development-stage biotech that is seeking to develop a novel immunotherapy treatment, Multikine, for head and neck cancer. Despite its noble goals, the company has its fair share of skeptics: Nearly 30% of its shares are shorted. Multikine is CEL-SCI's only late-stage candidate. The experimental therapy is going through the final stages of phase 3 data collection and statistical analysis, with results expected any day. Multikine's phase 3 clinical trial has been going on for a decade, even though it was supposed to conclude in December 2015. The discrepancy between the actual and estimated trial completion time has caused CEL-SCI to become a contested stock. All of this matters because large-cap biotechs can acquire development-stage competitors that successfully bring just one immuno-oncology therapy to market for more than $20 billion. CEL-SCI's market cap is just about $850 million, so the stock would without a doubt become a multi-bagger if it can bring Multikine past the finish line. Likewise, since it only has about $40.5 million in assets and negligible revenue, it will likely trade down to zero if Multikine disappoints. www.fool.com
AMEX:CVM
by AlenCiken
1
Reddit army set sights on Silver!News this morning out on CNN that Reddit mania is now focussed on Silver. This is an ambitious move as playing with silver is a dangerous game. The reason being that it's a global market, with powerful players, with deep pockets. Having said that, it will be interesting to see a global mobilization of Reddit and other activist trading groups and if they are able to exactly exert real market pressure on markets at scale globally. Either way, silver looks set to be a long day trade according to both the intraday technicals as well as the primary driver being the news and hype on Silver. that will surely develop over the trading day. Caution: Big chance of high volatility and sharp reversals. : Day Trade Idea: Silver Long 29.550 - 29.750 + !. Technicals very bullish on intraday charts 2. Reddit army seems to be targeting Silver 3. Cnn has a headline front page about the above. 4. I think that will mobilize Reddit mania. This is not advise to trade or enter any position based on my analysis.
TVC:SILVERLong
by Wayne_G
3
XAGUSD SHORT *H&S PATTERN*XAGUSD (Silver) is lining up for a short down to the $22.30 support zone. Price got manipulated by so called 'Reddit traders' who threatened to short squeeze the price of Silver as a counter attack on hedge funds positions on Silver. Price rose on Friday but very quickly got rejected by a major resistance zone, coming back down and closing the daily with a huge wick which could also 'coincidentally' be considered a liquidity grab before it goes down again like hedge funds want it to. This correlates positively with my Gold short position which I have also posted an analysis for on my channel. I will be cashing into this move alongside my Account Management investors.
FX:XAGUSDShort
by BA_Investments