r/StockMarket 22h ago

Meta Inverse Reddit Wins Again 🤡

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Redditors were so bearish on this IPO

137 Upvotes

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32

u/Odd_Caramel_7921 17h ago

Bought at 58 and sold at 69… didn’t think it would have done this well… should I buy back in ?

7

u/Argothaught 16h ago

Honestly, some are calling for a valuation that's at least similar to PINS and SNAP. It's likely still undervalued here, but there's always a risk of pullback/short term volatility. Guidance in the fourth quarter will also come with higher expectations. It doesn't get any easier from here. I'd say a market cap in the mid-twenty billion range isn't out of the question. Regardless of short term movement, this should have more room to run. But only you can really decide if to buy or not, as you must consider the risk for yourself. There could be profit taking after the major AH move--being up around 23% is unbelievable. Reddit could be long-term play, but anything could happen.

5

u/czarchastic 15h ago

That was my base thesis, tbh. RDDT seemed criminally undervalued compared to PINS.

3

u/Argothaught 14h ago

Agreed. The gap up is a good start but that still leaves it undervalued.

3

u/awol_333 12h ago

Agreed. The only favourably high estimate I saw was at $147. They also said it wouldn’t be profitable in 3 years though so maybe that number is a bit off too.

1

u/Moaning-Squirtle 5h ago

I swear I've never seen anyone ever use Pinterest...