“I Want to Buy Reddit Right Here”

Reddit, Inc. (NYSE:RDDT) was featured on Mad Money as Jim Cramer shared his take on the stock amid a sliding macro environment. Answering a caller’s query about the stock, Cramer said:

Yes, Reddit went down today because of these lawsuits. I’m going to take these lawsuits on in a very heavy fashion soon. I want to buy Reddit right here. I have to buy it gingerly because what happens is this stock does trade in 12-point increments. But Reddit, these cases are going to be overturned, and I’m really going to come at it hard because so many people sold JNJ when it was at $130… I’m not going to let this happen this time. I am going to make people understand that there’s two sides to every story.

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Reddit, Inc. (NYSE:RDDT) runs an online platform that hosts communities where users connect over shared interests, exchange ideas, and share content such as posts, images, and videos. A caller asked for Cramer’s thoughts on the company during the March 19 episode, and he replied:

Oh man, I’ve gotta tell you something. I’ve watched this Reddit. I’ve mentioned it in How to Make Money in Any Market. I never thought it would get down this low. I think it’s an incredibly valuable property. It charges too little for advertising. It’s got a great group of people who are very, very active in constantly checking the site. I’m sticking by Reddit. As a matter of fact, I’d like to buy some stock right here at 27 times earnings.

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