RDDT
The 13F crowd is still buying the vibe
Mirae Asset Global Investments Co. Ltd. disclosed that it boosted its Reddit position by 61.3% in its latest quarterly filing, adding 29,481 shares and bringing its total to 77,611 shares. At quarter-end, that stake was worth about $17.84 million.
Why you should care
This isn’t one of those sleepy portfolio tweaks that only makes a compliance officer yawn. When a fund doubles down on a stock like Reddit, it’s basically saying the story still has legs — and maybe more runway than the market has priced in.
The plot twist: Reddit is already a big winner
The filing landed alongside a pretty busy backdrop for RDDT:
- Reddit just beat Wall Street’s numbers, posting $1.24 in EPS versus $0.96 expected
- Revenue came in at $725.6 million, up 69.7% year over year
- Analysts still call it a “Moderate Buy,” with targets floating above where the stock was trading
So while Mirae’s move is the headline here, it’s happening while Reddit is already in “show me the money” mode. That usually keeps the stock interesting, if not a little dramatic.
Big picture
This is the kind of filing that can help keep momentum names like Reddit on investors’ radar. Not a moonshot by itself, but it adds to the sense that institutions are still willing to pay up for the growth story.