Jim Cramer Says “We’re Going to Buy Reddit Very Slowly”

Reddit, Inc. (NYSE:RDDT) was among the stocks Jim Cramer discussed on Mad Money, along with the recent sell-off in the market. When a caller asked if the stock is a buy, sell, or hold, Cramer commented:

I like it. I like it. I think it’s got a very, very good unique property, but you can’t buy it all at once because it sells at 29 times earnings… We’re going to buy Reddit very slowly, not aggressively.

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Reddit, Inc. (NYSE:RDDT) runs an online platform that hosts communities where users connect over shared interests, exchange ideas, and share content such as posts, images, and videos. Cramer discussed the company’s last earnings during the April 30 episode and said:

Reddit with a stock that’s down 36% for the year reported after the close, and I thought the numbers were excellent. Management also gave strong guidance for the current quarter. I think this remains a terrific story, one I highlighted in How to Make Money in Any Market. Reddit’s basically become a database of human conversations on the internet, and it’s essential for training artificial intelligence models. And they’re doing all of this without the massive capital spending plans of other big tech companies. To me, it’s a winner, and the after-hours market agrees with me. The stock’s up big.

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