Could Reddit Become the Next Meta Platforms?
Reddit (NYSE: RDDT) went public at $34 per share on March 21. The social news platform provider's stock opened at $47 and ended its first day at $50.44. That gave it a market cap of $8 billion -- but it's still a lot smaller than larger social media companies like Meta Platforms (NASDAQ: META), Pinterest (NYSE: PINS), and Snap (NYSE: SNAP).
Will Reddit follow Meta's growth trajectory over the next few years and generate multibagger gains for its investors? Or will it fizzle out like Snap, which still trades at a steep discount to its initial public offering (IPO) price?
Image source: Getty Images.
Source Fool.com
Snap Inc Stock
€12.28
-1.000%
Currently there is a rather positive sentiment for Snap Inc with 12 Buy predictions and 5 Sell predictions.
With a target price of 14 € there is a slightly positive potential of 13.99% for Snap Inc compared to the current price of 12.28 €.
