Reddit Has Been One of the Worst Stocks in the S&P 500. Here's Why It's a Buy.

Reddit’s stock (NYSE: RDDT) has fallen more than 30% year-to-date, putting it among the worst performers in the S&P 500. But the article argues the drop doesn’t match the company’s underlying results. In its second quarter, Reddit revenue rose 61% year-over-year and net income nearly tripled. It also posted eight straight quarters of more than 60% YoY revenue growth. Weekly active users climbed to 514.6 million, up 24% YoY, and daily active users grew 18% YoY. With the ad business up 64% and roughly 95% of revenue, Reddit bought back $235 million in shares. The stock trades at a 30.5 forward P/E.