Power Plays Update: Trim RDDT
October 29, 2024
By Scott Redler
Okay, we have good news and bad news with Reddit (RDDT).
The bad news is we didn't know RDDT was reporting today.
The good news is that they delivered a gigantic beat and strong guidance.
And the stock up about 14% after hours over $95.
We'll take off another 25% here, leaving us with 25% of the original position.
Our Power Plays entry was $67.81 so this goes down as one of our best wins this year.
-Scott
P.S. This was technically a mistake since I don't like to take stock into earnings... but I'm not gonna complain.
Scott Redler Positions Disclosure as of 2024-10-29 at 4.18.06 PM