Jim Cramer Discussed These 10 Stocks Recently

2. Reddit, Inc. (NYSE:RDDT)

Number of Hedge Fund Holders: 87

Cramer noted that similar to Cava, Reddit, Inc. (NYSE:RDDT) has not made any major mistakes. He highlighted that the company reported an excellent quarter last month, with revenue growth reaching 71%. He added:

“The problem here is that this is exactly the kind of stock that people dump whenever we get hit with the market-wide meltdown. It’s almost programmed. The only scenario in which I’d get more bearish on Reddit’s fundamentals would be if the current period of macro uncertainty turns into an outright recession because a recession would really hurt their advertising business. In a recession, anything that depends on ads does get crushed but I don’t think we’re headed for a recession, which means Reddit’s pretty darn enticing now that the stock’s practically being cut in half…

Plus, based on the way that Reddit’s been beating the estimates, I wouldn’t be surprised if the stock ultimately proves to be much cheaper than it looks right now, if only because the future earnings are likely to come in higher than expected. Again, as long as there’s no recession, as long as this thing continues to be able to spread and grow, not just from this nation, I should say all over the world, Reddit’s a winner, and I think it is going to be very big internationally.”

Reddit (NYSE:RDDT) operates a popular platform that allows users to participate in discussions, share content, and join different interest-driven communities.