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REDDIT, INCREDDIT, INCREDDIT, INC

REDDIT, INC

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RDDT trade ideas

REDDIT $RDDT - Apr. 3rd, 2024REDDIT NYSE:RDDT - Apr. 3rd, 2024 BUY/LONG ZONE (GREEN): $50.50 - $56.75 DO NOT TRADE/DNT ZONE (WHITE): $46.00 - $50.50 SELL/SHORT ZONE (RED): $40.00 - $46.00 Not enough data to list 4H, Daily, or Weekly trend directions. ATH: 74.90 ATL: 44.00 Wanted to chart up NYSE:RDDT after the IPO and radical price movement. There is not enough data to show any form of trend direction on my usual timeframes, so I dropped to the 1H. Because of the lack of historical data, I was using the all-time high and all-time low prices for level references. The bearish target is $40.00, roughly 10% below the all-time low, as price is closely trading in that area at this time. The bullish zone is purposely around the same size as the bearish zone, but can be extended to around the $63.50 level. This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas. EDUCATIONAL/ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE! trendanalysis, trendtrading, priceaction, priceactiontrading, technical indicators, support and resistance, reddit, NYSE:RDDT , rddt, redditstock, redditipo, ipo, rddtipo, redditdirection, reddittrend, redditlong, redditshort, reddittrade, redditstory, redditpost,
NYSE:RDDT
by TonyAiello
Is ReDDiT Ready to Launch? Decoding the WavesReddit has deceived the IPO buyers but the chart might be hinting at a turnaround. Elliott Wave theory suggests a possible 5-wave downtrend is ending. The current rise could be a wave 1 up before the real rise. Keep an eye on $47.50! If price breaks above this resistance level, things could get bullish, with a potential reach towards $58-$60 at first with a new high potential afterwards. Not so fast though! If the price stays below $47.50, the downtrend might not be over and I shall consider this move as a counter trend rise and try to short it as we could see a drop to $38 or even lower if we see an extended fifth which could happen if the rest of the market starts to accelerate to the downside. How to trade the bullish view : If price breaks above $47.50, I will use a consolidation or pullback to buy. This consolidation would indicate buying pressure after the breakout and offer an entry opportunity. Simply put, I shall wait for a wave 2. Remember, always maintain a stop-loss, for exemple below key support or the low of the breakout day to manage risk in case price reverses. What are your thoughts on RDDT? Share your analysis in the comments below! (Please abstain from comments like 'lol', 'okay' or other comments that bring nothing to the discussion...)
NYSE:RDDT
by ElliottWaveBelgium
(RDTT) Intraday Analysis: A Tug of War Between Bulls and bearsAs the trading session unfolds, Reddit, Inc. (RDTT) presents a battlefield where bulls and bears are locked in a tenuous struggle for dominance, as evidenced by the hourly chart indicators. The stock price, currently at $47.56, teeters at the precipice of a potential breakout or breakdown. The Ichimoku Cloud paints a picture of resistance and support, with the price action just below the cloud, indicating a bearish bias in the near term. The cloud's future projection appears to widen, suggesting increased volatility in the upcoming hours. The price's proximity to the lower boundary of the cloud could insinuate a testing ground for the bulls' resolve. Fibonacci retracement levels, traced from a high of $48.16 to a low of $47.53, reveal that the stock is flirting with the 23.6% retracement level. A sustained move above this level could catalyze a push towards the 38.2% level at $47.79, which stands as an intermediate hurdle before the 50% retracement at $47.85. The Moving Average Convergence Divergence (MACD) showcases a recent bullish crossover, with the MACD line (blue) ascending above the signal line (orange). This bullish signal, however, is still in its nascency and requires further bullish volume to confirm a trend reversal. The Relative Strength Index (RSI), perched at 48.33, hovers near the neutral 50 mark, signifying a balance in market momentum. This neutrality calls for vigilance, as a move above 50 could be indicative of emerging buying pressure, while a dip below could signal increased selling activity. Complementing this is the Stochastic oscillator, which presents an intriguing conundrum as the %K line has just crossed above the %D line, signaling a potential increase in upward momentum. Yet, this indicator alone is not sufficient for a confirmation of trend change and should be scrutinized in tandem with other metrics. Lastly, the On-Balance Volume (OBV) metric has declined slightly, reflecting a modest decrease in buying volume. This indicator will be essential to monitor for signs of either accumulation or distribution, as a significant change could precede price action. Speculative Forecast: In the short term, RDTT's price action suggests a cautious outlook. A break above the Ichimoku Cloud could initiate a near-term bullish target at $47.85 (50% retracement), with further room to ascend towards $48.00 (61.8% retracement). Conversely, failure to breach the cloud may see a retest of support levels, potentially revisiting recent lows near the $47.50 zone. Traders are encouraged to closely observe the confluence of the aforementioned technical indicators for a more comprehensive bias confirmation. Given the stock's current posture, a definitive directional move is yet to materialize, and as such, the intraday strategy should remain fluid and adaptable to the rapid shifts characteristic of the current market landscape.
NYSE:RDDT
by AxiomEx
Reddit Shares Surge Following Options LaunchThe shares of social media platform Reddit ( NYSE:RDDT ) surged by 14% on Tuesday, building upon the momentum generated by the recent launch of options trading on the stock. With each share currently valued at $67.5, Reddit ( NYSE:RDDT ) is poised to witness a substantial increase in its market value, with more than $1 billion set to be added to the company's worth. Notably, the stock is on track to nearly double its IPO price of $34, marking a significant milestone in its journey as a publicly traded entity. The surge in Reddit's ( NYSE:RDDT ) stock price can be attributed to the enthusiastic response from investors following the introduction of options trading. Jeremy Goldman, senior director of client briefings at Emarketer, formerly Insider Intelligence, commented on the phenomenon, stating, "More bullish investors have bought options in Reddit, which is part of its early stock market success in its first full week of trading." Indeed, the launch of options trading has fueled bullish sentiment towards Reddit ( NYSE:RDDT ), as evidenced by Monday's trading activity, where the stock closed up approximately 30%, emerging as the top percentage gainer on the New York Stock Exchange. Goldman further elaborated on the surge in options activity, estimating that around 90,000 options have changed hands, underscoring the heightened interest among investors in leveraging Reddit's potential for further growth. The current gains in Reddit's share price not only reflect investor optimism but also position the company to surpass the $10 billion valuation it attained in a private fundraising round in 2021. This resurgence in Reddit's market value underscores the platform's growing influence and relevance in the digital landscape, as it continues to attract both users and investors alike. As Reddit ( NYSE:RDDT ) navigates through the evolving dynamics of the stock market, the success of its options trading debut signals a new chapter in its trajectory as a publicly traded company. With investors displaying confidence in its growth prospects, Reddit ( NYSE:RDDT ) stands poised to capitalize on its momentum and solidify its position as a key player in the social media and technology sectors.
NYSE:RDDTLong
by DEXWireNews
2
Reddit Braves Wall Street with 48% Pop in Debut. When Growth?Traders upvoted Reddit’s IPO but can the buzzing social media platform earn its stripes as a public company now? Table of Contents: ⦿ Reddit Surges in Public Market Kickoff ⦿ If Wall Street Bought, Should You? ⦿ Reddit Stacked Up Against Rivals ⦿ Ad Posts Looking Like User Posts? ⦿ Bottom Line 📍 Reddit Surges in Public Market Kickoff Reddit (ticker: RDDT ) stepped into the public-market space this week with a flashy and splashy IPO (initial public offering) in New York that chalked up a 48% gain on its debut day. The listing was met with lots of cheer from Wall Street as it was the biggest one for a social media company since Pinterest hit exchanges in 2019. Shares of Reddit surged to $47 out of the gate to make its first deals at a 38% premium to the company’s IPO price of $34 a share. Valuation soared to $9.5 billion by the end of the session when shares closed at just over $50 a pop. Reddit’s listing day with the Snoo—the website’s official mascot. Source: Reddit. By the looks of it, investors upvoted Reddit—a chat-room powerhouse and a stalwart of community-based culture venues sprawling from cat-praising r/CatsInSinks and owl-loving r/Superbowl to the intimidating trading hub r/wallstreetbets that bankrupted GameStop short-seller Melvin Capital. 📍 If Wall Street Bought, Should You? So the question is, if Wall Street scooped up Reddit shares… should you? Let’s take a behind-the-curtain look at Reddit’s business model. It’s been three years of trying for Reddit to get listed on the New York Stock Exchange. Finally, it issued 22 million shares for flotation, of which 8%—or 1.8 million—were reserved for friends, family and volunteer moderators. Those are unpaid users who make sure all the online communities are running smoothly. And they are also the content creators, because—unlike Netflix (ticker: NFLX ) or Spotify (ticker: SPOT )—Reddit doesn’t pay for its content. The platform boasts roughly 73 million daily active users spread across 100,000 online chat rooms, or “subreddits.” Despite the wide reach and 19 years of existence, the platform has never seen what a profitable year looks like. Its revenue comes predominantly from selling ads to companies who paid $804 million last year while the bottom line arrived at a $91 million loss. The revenue figure was a 20% increase from the $668 million picked up in 2022. 📍 Reddit Stacked Up Against Rivals And while revenue growth can be seen along the years, investors are betting that Reddit will ultimately catch up to the big shots in the social-media space. When Meta (ticker: META ), formerly Facebook, kicked off its public endeavors in 2012, it soaked up a market value of $104 billion and raised $ $16 billion for its IPO. Elon Musk’s X Corp, formerly Twitter, landed its first public deals at a $14 billion valuation, having raised $1.8 billion. In comparison, Reddit raised $748 million at an IPO valuation of $6.4 billion. Reddit carries the lowest valuation at IPO among social media peers. 📍 Ad Posts Looking Like User Posts? Against that backdrop, Reddit is taking a sketchy approach to bolstering its ad sales. Apparently, the folks at the upper echelons of the company decided it’s a good idea to make ad posts look exactly like user posts . The so-called “free form ads”, the company said, will mimic the popular user post type “megathread” and will “encourage users to deep dive into the topic at hand.” The community, on the other hand, didn’t show much love to that new advertising strategy. “Enable comments on ads, you cowards,” said one Reddit user while related threads were loaded with users’ comments of disapproval. 📍 Bottom Line And there you have it, 19 years of posts, 100,000 subreddits, and 73 million users who churn out all the content and self-sustain operations. Reddit gave us the meme stock craze back in 2021. Is it going to give us a rerun of the stock frenzy with its own shares this time? Or will the folks at r/wallstreetbets flip the script and short it? 💬 Let us know your thoughts in the comment section below! Don't want to miss any of our articles and be notified when a new one is released? Give us a follow!
Editors' picks
NYSE:RDDT
by TradingView
9
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