Reddit Is Soaring. Is It Too Late to Buy the AI Stock?

Reddit (NYSE: RDDT) went public earlier this year with a unique promise in social media. Rather than just making money through advertising, the way social media companies have traditionally, Reddit aimed to unlock its massive content portal, which the company calls its corpus, and use it for training AI models.While there was some skepticism about that business model, especially since Reddit had essentially never been profitable in its nearly 20-year history, the emergence of its advertising business and its potential in AI delivered a blowout quarter.The stock jumped 42% on Wednesday, and shares have now more than tripled from their $34 initial public offering (IPO) price in March. Revenue jumped 68% in the quarter to $348.4 million, which smashed estimates at $312.8 million. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool