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Jim Cramer Says a Reddit IPO Is Bad for the Economy: Does That Mean You Shouldn't Invest? [Yahoo! Finance]
Last walmart inc. earnings: 2/18 06:00 am
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Yet, some experts, such as CNBC's Jim Cramer , argued pre-IPO that the IPO could bode poorly for the economy and markets. Check Out: 7 Best Stocks To Buy Under $1 Read Next: 5 Genius Things All Wealthy People Do With Their Money The company's shares increased 48% on the day of the IPO, as CNBC reported at the time. Reddit Earnings Beat Analysts' Expections And on May 7, Reddit reported its first earnings post-IPO, beating analysts' expectations. Revenue was up 48% from a year earlier and stood at $243 million, according to the earnings release. This pushed the stock 11% higher, according to CNBC As of May 10, shares of Reddit were up 27% over the past month. A few days before the IPO in early March, however, Cramer expressed his concern about the offering impacting the bull market. He said that, despite being in operation for 19 years, Reddit had never turned a profit, relying solely on adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), ac
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