Reddit Posts Strong Q2 Results, But JPMorgan Warns Of Volatility Ahead (CORRECTED)
Portfolio Pulse from Surbhi Jain
Reddit Inc. (NYSE: RDDT) reported strong Q2 results with significant growth in daily active users and revenue. However, JPMorgan warns of potential volatility due to an upcoming lock-up expiration and a possible slowdown in advertising revenue growth.
August 07, 2024 | 12:52 pm
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Reddit Inc. reported impressive Q2 results with a 51% increase in daily active users and a 54% rise in revenue. However, JPMorgan warns of potential volatility due to an upcoming lock-up expiration and a possible slowdown in advertising revenue growth.
While Reddit's Q2 performance was strong, the upcoming lock-up expiration could lead to increased volatility. Additionally, there are concerns about a potential slowdown in advertising revenue growth, which could impact the stock price in the short term.
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