On March 21, user-generated content platform Reddit (NYSE: RDDT) held its initial public offering (IPO). Priced at $34 per share, the company started off with a market value of more than $6 billion, making it the largest IPO for any social media stock.

As evidenced by the stock's 60% rise from its IPO price, investors clearly want to get their hands on shares of Reddit. And it's understandable: The company has multiple attractive qualities.

For example, it's a high-growth business with a gross-profit margin of nearly 90%, and it has captured the imaginations of investors with its potential applications in artificial intelligence (AI).

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Source Fool.com