Reddit Inc (NYSE:RDDT) shares, rose in value on Wednesday, November 20, with price down by -0.65% to the previous day’s close as strong demand from buyers drove the stock to $136.27.
Actively observing the price movement in the last trading, the stock closed the session at $137.16, falling within a range of $130.01 and $138.39. Referring to stock’s 52-week performance, its high was $139.04, and the low was $37.35. On the whole, RDDT has fluctuated by 76.31% over the past month.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
With the market capitalization of Reddit Inc currently standing at about $23.93 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 1.27B, with a low estimate of 389M and a high estimate of 413.4M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 399.1M.
The stock’s technical analysis shows that the price of RDDT currently trading nearly 16.61% and 54.23% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 71.39, while the 7-day volatility ratio is showing 5.74% which for the 30-day chart, stands at 6.04%. Furthermore, Reddit Inc (RDDT)’s average true range (ATR) is 7.15.
Data on historical trading for Reddit Inc (NYSE:RDDT) indicates that the trading volumes over the past 10 days have averaged 5.27 and over the past 3 months, they’ve averaged 5.44 million. According to company’s latest data on outstanding shares, there are 175.58 million shares outstanding.
Nearly 44.70% of Reddit Inc’s shares belong to company insiders and institutional investors own 39.08% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.75 million shares as on 2024-10-31, resulting in a short ratio of 1.61. The stock has risen by 170.16% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RDDT stock heading into the next quarter.
