Reported 2 days ago
Coatue Management has made headlines by revealing a $1 billion stake in Reddit, which has nearly tripled in value over recent months due to strong earnings reports. The hedge fund's portfolio now reflects significant gains from this investment, with Reddit's stock up 193% in the last five months. Despite recent fluctuations, analysts remain optimistic about Reddit's revenue growth and profitability, while Coatue has also adjusted its positions in other sectors, notably selling off its Chinese stock holdings.
Source: YAHOO