Jim Cramer on Reddit: "Just Stay in It"

Reddit, Inc. (NYSE:RDDT) is one of the stocks Jim Cramer shared his opinions on. A caller asked if the stock’s 10% decline offered a good reentry point after Cramer’s earlier $45 buy recommendation and the stock’s strong rally. He replied:

“Look, I think you own some. I don’t think you need to, I would not, as you know from the club, I would not buy more and violate my basis unless it is down more than it is. I like it. No need to buy more. That’s what I told a lot of people at Total Wine & More… You got it. You got it. Just stay in it.”

Reddit, Inc. (NYSE:RDDT) operates an online platform that hosts interest-based communities where users share content, exchange ideas, and connect through discussions, images, videos, and links. When a caller asked for a potential re-entry point into the stock during the September 2 episode, Cramer replied:

“Okay, Steve Huffman is the most self-effacing of great CEOs of this generation. I like the stock so much. I thought it would come in, so I could buy it for the Charitable Trust… It hasn’t, it’s down five today. I do believe, I thought I could get it at 180, 170… Hold on to the stock. It’s a winner.”

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