Jim Cramer Says “Reddit’s Going to Go Much, Much Higher”

Reddit, Inc. (NYSE:RDDT) is one of the stocks that was recently put under the microscope by Jim Cramer. When a caller asked about the stock during the episode, Cramer said:

“I think Reddit’s doing terrifically… I think Reddit’s going to go much, much higher. They’ve got the data that a lot of these search engines need. And I’ve gotta tell you, I think management, I think Steve Huffman is under, he’s really just, he doesn’t get the credit he deserves. I like the guy.”

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Reddit, Inc. (NYSE:RDDT) operates an online platform that hosts user-driven communities centered on shared interests, enabling discussions, content sharing, and social interaction. On October 3, when a caller pointed to falling daily active users and lower ChatGPT engagement, Cramer responded:

“Okay, I saw this stuff on Reddit. I’ve been trying to get, I mean, you know, a lot of… these chatbots rely on Reddit. You often see them as like the first or second indicator. I think that was kind of excessive. The stock has had a remarkable run. I think that the pullback, though, is viable. I think Reddit is a valuable institution. I think the numbers are good. I would put on some here and then I would wait to see if it drops again because, actually, quite frankly, people look at the chart and the chart is not so great.”

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Disclosure: None. This article is originally published at Insider Monkey.