Part 1: Deep dive on Reddit (RDDT)
Over the next 3+ months I’m doing a webinar every 2 weeks, hosted by TrendSpider. The first one will be tomorrow, Monday, July 22nd at 4:30pm EST, you can signup at https://us06web.zoom.us/webinar/register/WN_yDFoS-ieTDO5otwaYv2u0w#/registration
It will be recorded but you still need to register ahead of time.
Save 50% on TrendSpider annual plans by using my link… http://trendspider.cc/luptoncapital
Some of the topics I’m hoping to cover:
What is my hedging strategy? What indicators do I use to guide me for my intraday trading of hedges?
What specific trading setups I’m looking for during earnings season?
What tools and/or custom scans do I use to identify the best setups?
How do I manage positions before/during/after earnings season?
What key names am I watching this earnings season?
Paid subscribers to Jonah’s Growth Stock Deep Dives receive 2-3 deep dives per month (8,000+ words), 1-2 mini deep dives per month (2,000+ words) and 12-15 quarterly earnings writeups plus access to my investment models and investment portfolio spreadsheet with real-time activity and notes/commentary.
FWIW, my investment portfolio is up +161.1% in 2024, after being up +134.7% in 2023 and now up +2,650% since January 2020 when I got back into investing full-time.
My investment strategy is pretty simple. I want to own 15-20 high-quality growth stocks (core holdings) plus swing trades, with the best fundamentals at the most reasonable valuations — if the fundamentals begin to disappoint or the valuation no longer looks compelling I will trim or sell my position. If the fundamentals remain strong and valuation remains reasonable then I’ll add on pullbacks. I only want to own stocks that have at least 50% upside within the next 1-2 years and at least 100% upside within the next 3-4 years. If I buy stocks that are too expensive, the fundamentals aren’t good enough or my investment thesis is weak — then I’ll never hit my investment performance goals. My objective is to maximize the upside in good markets and minimize the downside in bad markets which I accomplish by being very selective in what I own but also using technical analysis and hedges to protect my portfolio during market selloffs.
Company: Reddit
Ticker: (RDDT)
Website: RedditInc.com and Reddit.com
IPO date: March 21, 2024
IPO price: $47 per share
Current stock price: $64.70
Outstanding shares: 163.5 million (dual share structure)
52-week high: $76.74 on July 09, 2024
52-week low: $37.35 on April 18, 2024
ATH: $76.74 on July 09, 2024
Market cap: $10.58 billion
Net cash/debt: +$1.65 billion
Enterprise value: $8.93 billion
Headquarters: San Francisco, California, United States
Number of employees: 2,000+
Average price target from analysts: $63.00
Investor Relations: investor.Redditinc.com
Q1 2024 Earnings Report: https://investor.redditinc.com/news-events/news-releases/news-details/2024/Reddit-Announces-First-Quarter-2024-Results/
Q1 2024 Shareholders Letter: https://investor.redditinc.com/files/doc_financials/2024/q1/Q1-24-RDDT-Letter-to-Shareholders-vF-1.pdf
Q1 2024 Ask Me Anything Video: https://www.reddit.com/r/RDDT/comments/1cmxxgb/ama_video_reddits_first_quarterly_earning_results/