8 Stocks on Jim Cramer’s Radar Recently

2. Reddit, Inc. (NYSE:RDDT)

Number of Hedge Fund Holders: 87

Cramer noted that Reddit, Inc. (NYSE:RDDT) is a “buy” but only for investors who can withstand market volatility.

“So many stocks have made incredible comebacks over the past few weeks, but there are still plenty of names that are way down from their highs earlier this year. Take Reddit… while the stock soared 11% today, it’s off more than a hundred bucks from its February peak of $230 and change. I think it might be a buying opportunity here as long as you steel yourself for a potentially wild ride. It is a wild trader. See, two weeks ago, Reddit reported the stunning quarter, but the stock didn’t get any credit for it at all… Despite initially surging 18% in after-hours trading, Reddit stock finished the next session down more than 4%…

While I think Reddit’s absolutely worth buying at these levels, even after today’s monster move, stocks like these are only worth owning if you can stomach some serious volatility like we’re having right now. Keep in mind, we’re always one presidential tweet or whatever you want to call it away from these kinds of names falling out of favor all over again. That’s why I say Reddit’s a buy, but only if you’ve got the intestinal fortitude to stick around for the long haul.”

Reddit (NYSE:RDDT) runs a widely used platform where users share content, take part in discussions, and engage in communities centered on specific topics.