98% of my portfolio is now invested in RDDT. The other 2% is in Paramount calls with a 2027 expiration.
I originally started buying back around IPO but I purchased 5500 shares last night on the dip (between $183-174) so now my cost basis is over $100 and it make me sad.
RDDT’s IPO was wildly underpriced. Just no stock with such a high chance of holding future MAG7 status should IPO this low.
How could it hold mag 7 status?
It’s the brain off the internet. Sam Altman owns 10% of Reddit. You know why? Because he’s known this for a long time. He needed it for ChatGPT.
You know who else has always needed Reddit? Google. Check out this quote from the intelligencer in 2023 back before Reddit was a public company
“On Monday, thousands of the largest communities on Reddit went private, effectively removing themselves from the site. In an instant, Reddit became less interesting and useful. Remarkably, so did Google: As one of the internet’s biggest searchable repositories of content made by humans, including millions of user-generated questions and helpful answers, Reddit, which was started in 2005 as a link aggregator with the goal of being the “front page of the internet,” has become part of the search engine’s core infrastructure.”
Boys and Girls - that $6.5B IPO was a gift from the Gods. It’s still a steal $50B market cap. Remind yourself that share price is meaningless. I think the stock has room to run for a very long time before the share price reflects its long term growth potential.
Spez describes RDDT as an online city. I believe, as time marches on, that description will become true in ways that we can’t imagine at the moment.