Is Reddit half off?

Is anyone else looking at RDDT right now? ATH was around 270. It’s sitting around 140. That’s basically cut in half. Did the business get cut in half? No. Users didn’t disappear. Engagement didn’t disappear. Ad revenue is still growing. Monetization is still early. Reddit hasn’t even fully squeezed what this platform can generate yet. And here’s the part people ignore: Wall Street analysts still have this priced way higher. Consensus price targets are sitting around $227–$240. That’s roughly 50–70% upside from here. Some firms have targets in the $300 range. Evercore initiated with an outperform and a ~$320 target calling it an “AI sleeper.” RBC raised their target toward ~$250. You don’t have to believe in hype — just look at the spread between current price and what analysts think it’s worth. Even if you haircut those targets hard, you’re still looking at serious upside from 140. From a chart perspective, this doesn’t look like a stock rolling over into oblivion. It looks like a base forming. Higher lows. Selling pressure faded. Volume shows up on green days. It’s compressing. Usually that resolves one way or the other. And here’s the funny part: We are literally the engagement metrics they’re modeling. Wall Street runs DCFs on “monthly active users” and “time spent.” We are the time spent. I’m not saying it goes straight back to 270. But if sentiment flips and this reclaims 200+, everyone who passed at 140 is going to act like they knew all along. Feels like one of those spots where risk/reward actually makes sense instead of chasing something at highs. Curious who else is watching this one.