Jim Cramer Recently Talked About These 12 Companies

5. Reddit, Inc. (NYSE:RDDT)

Number of Hedge Fund Holders: 87

A caller expressed worry about Reddit, Inc. (NYSE:RDDT), citing recent increased insider selling activity. Here’s what Cramer had to say:

“Alright, Steve Huffman did a really good job. The people were really, they, they gunned that stock ahead of the quarter. There was no way it could ever meet the expectations. It’s now come down tremendously and I think this is a good time to start a position. Stock was up six today. I don’t want to buy up six. If it comes in on Monday or Tuesday, buy a little.”

Reddit (NYSE:RDDT) runs a widely used platform where users can engage in discussions, share content, and connect with various communities based on shared interests. Last week, whilst commenting on the company, Cramer said:

“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.”