# Reddit beats and raises, and it is still cheap

By @JonahLupton on X · https://f.xyz/t/f680a1eb-5f41-4030-96a2-ab35ec3eb2e4

> Reddit beats and raises on strong Q3 data, and new AI data deals can follow.

**Result:** If held over the last 3 months (Aug 19, 2026 – Oct 29, 2026): −14.2%. Over the same days: S&P 500 −0.2%.

## What it holds

- **Reddit** (100%, −13.9% over 3 months): RDDT (Reddit) −13.9%

## The plan behind it

Jonah Lupton wrote on 9 Oct that Reddit’s Q3 data looks very strong and he expects a big beat and raise. Revenue grows 60–65% a year, the stock trades at 18 times next year’s earnings, and new data deals with AI labs are possible. This holds Reddit.

> As I've been saying for several weeks on $RDDT ... the Q3 alt data looks very strong across the board... I'm expecting a big beat and big raise... also possible we get new data licensing deals in the next couple months from Anthropic, OpenAI and Gemini.
> 
> Lots of potential catalysts on the horizon with revenues growing 60-65% YoY and eps growing 65-70% YoY while the stock trades at 18x NTM EPS with 10% of their market cap in cash.
> 
> $RDDT has been acting well the past few days... I suspect others are seeing the Q3 data and getting more bullish into earnings.
> 
> $RDDT is easily one of the most undervalued non-AI growth stocks in the market.
> — @JonahLupton on X: https://x.com/JonahLupton/status/2108587460007526532

Picked by fxyz from @JonahLupton’s post.

**What would prove it wrong:** Reddit misses Q3 or guides lower.

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