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Jim Cramer Says “Reddit’s Got A Lot More Room to Run”

Reddit, Inc. (NYSE:RDDT) is one of the stocks on Jim Cramer’s radar. During the episode, Cramer recommended “sticking” with the company stock, as he said:

“I gotta tell you, I think Reddit’s got a lot more room to run. I’m not kidding. This one’s been a huge winner for us. I’ve been following the company closely ever since it came public early last year and started recommending it about a year and a half ago, when it was trading around 50. I thought Reddit had tremendous growth… amazing digital advertising business because it’s basically the last bastion of the old school internet… Reddit kept running for the next couple of months, peaking at $230 in January, then it plummeted all the way back down to around 80 bucks at its post Liberation Day lows in April.

And you know what? That turned out to be an incredible buying opportunity, which is why I pounded the table on Reddit in May… Even as someone who adores this company, I had no idea Reddit was capable of delivering a quarter as strong as the one they reported last Thursday night. These results literally were staggering, much better than expected on basically every line…

I am a big believer in the AI revolution, you know that, but in fairness, a lot of AI-generated content is slop, as the kids say. Sometimes you just want to communicate with real human beings, and that’s what makes Reddit so valuable. Speaking of AI, management’s already licensing their data to AI platforms, and they believe this will eventually be a big source of business, although it’s still very early… If you got that, this stock will go up to 300, but they still haven’t figured that out yet, I think.

Here’s the bottom line: After last week’s tremendous quarter, I think Reddit might be the best growth story in the digital advertising space, and I bet the stock’s got a lot more room to run. So I want you to stick with Reddit. Can I say, I think it’s that good a story.”

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Reddit (NYSE:RDDT) operates an online platform where users create and participate in interest-based communities to share content, exchange ideas, and engage in discussions.

While we acknowledge the risk and potential of RDDT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RDDT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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