What To Know: Reddit recently posted first-quarter earnings of 13 cents per share, beating consensus estimates of 2 cents. Revenue hit $392.36 million, up from $242.96 million a year ago, driven by a 61% surge in ad revenue and a 31% increase in daily active users to 108.1 million.

Net income reached $26.2 million, reversing a $575.1 million loss a year prior. Operating cash flow rose to $127.6 million, while gross margin improved to 90.5%.

Read Also: Foot Locker Stock Soars On Potential Dick’s Sporting Goods Deal: Report

Read Also: Powell Signals Fed May Shift Inflation Strategy After 5 Years Of Economic Upheaval

How To Buy RDDT Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Reddit’s case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, RDDT has a 52-week high of $230.41 and a 52-week low of $49.13.