welcome
Insider

Insider

Business

Business & Economics

Whale Watch: Reddit has nearly tripled in recent months, and one major hedge fund made a $1 billion bet last quarter as it soared

Insider
Summary
Nutrition label

83% Informative

Coatue Management revealed a $1 billion Reddit stake as of the fourth quarter .

The hedge fund's stake made up about 3.6% of Coatue 's $59 billion portfolio of publicly traded stocks.

Reddit stock has been on a tear since October amid solid earnings.

Coatue also revealed a reduction in Chinese stocks and new positions in tech names.