Reddit’s advertising revenue increased by 192 percent year over year in the second quarter. In addition, the company raised $700 million in a fundraising round, boosting its valuation to $10 billion. This growth is due to retail traders who use Reddit forums like WallStreetBets and Cryptocurrency. In November, Peloton Interactive, Cloudflare, and Penn National Gaming, Inc. are among the best Reddit stocks to buy.
Here is Insider Monkey’s 10 Reddit stocks to buy in November. Rivian Automotive, Inc. is a company that sells electric vehicles that are designed for off-roading and adventure travel. Amazon and Ford, two of the world’s largest retailers, have invested in the company. On the first day of trading, the company was valued at roughly $100 billion. ReWalk Robotics Ltd. is a healthcare equipment company specializing in developing wearable robotic exoskeletons for persons who have mobility issues or other medical ailments. The company recently released its third-quarter profits, showing nearly $2 million revenue. Progenity, Inc. is a company that develops and sells molecular testing equipment. The company revealed that patents for a new ingestible medicines technology have been granted to it. The new technology will aid in delivering pharmaceuticals manufactured by pharmaceutical behemoths like Pfizer. Cassava Sciences, Inc. is a biotech company specializing in the discovery of medications to treat neurological illnesses. Redditors have been busy pointing up a recent study published in a medical journal that found no evidence of data manipulation. DraftKings Inc. is a company that specializes in digital sports betting and entertainment. On November 5, the company released its third-quarter profits, reporting revenue of $213 million, up 60% year over year. Ryan Sigdahl of Craig-Hallum recently reaffirmed a Buy recommendation on DraftKings shares. For more details, click 10 Reddit Stocks To Buy In November.