Cramer Believes That "Reddit is a Valuable Institution"

Reddit, Inc. (NYSE:RDDT) is one of the stocks Jim Cramer recently talked about. A caller noted the declining daily average users and reduced engagement with ChatGPT, and asked if the recent rebound in Reddit’s stock, after a 30% drop, is a sign to exit the position. In response, Cramer said:

“Okay, I saw this stuff on Reddit. I’ve been trying to get, I mean, you know, a lot of… these chatbots rely on Reddit. You often see them as like the first or second indicator. I think that was kind of excessive. The stock has had a remarkable run. I think that the pullback, though, is viable. I think Reddit is a valuable institution. I think the numbers are good. I would put on some here and then I would wait to see if it drops again because, actually, quite frankly, people look at the chart and the chart is not so great.”

Reddit, Inc. (NYSE:RDDT) operates an online platform that hosts interest-based communities where users share content, exchange ideas, and participate in discussions through posts, images, videos, and links.

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