- Reddit shares soared 14% on Wednesday after the social media firm floored investors with strong revenue growth and improving profitability in the first earnings since its market debut .
"We suspected that Reddit would come out strong out of the gates, and Reddit exceeded our bullish expectations," Bernstein analyst Mark Shmulik said in a client note."Reddit appears to be reaping the benefits of a strong digital ad market, buoyed by some 'free' IPO marketing, alongside increased traffic courtesy of their new favorite AI partner Google."
Reddit, whose valuation is much smaller than rivals such as Meta Platforms, was on track to increase its market capitalization by more than $1 billion to more than $9 billion based on its premarket share price of $56.97. Stocks are primed to tumble into a bear market as bullish investors have driven equities to 1929 extremes, famed fund manager saysThese two dividend stocks are due for a major comeback, which could come this year. All while receiving a decent dividend! The post 2 Dividend Stocks to Double Up on Right Now appeared first on The Motley Fool Canada.Known as the Oracle of Omaha, Warren Buffett is one of the most successful investors of all time.
Source: News Formal (newsformal.com)
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