Wall Street brokerages start Reddit coverage with skepticism on user growth

Wall Street brokerages start Reddit coverage with skepticism on user growth

The Star Online - Tech·2024-04-15 21:00

(Reuters) - J.P.Morgan and Morgan Stanley started coverage on Reddit with equivalent to "hold" ratings, as they wait for clarity on the social media company's user growth, while staying bullish on ad-revenue growth and artificial intelligence (AI) initiatives. Shares of Reddit were up 0.88% at $42.64 in premarket trading.

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