Even after today’s nosedive the P/E is still at 139. It seems exceedingly high even with Reddit’s strengths. Fundamentally, I do believe the platform itself is probably the best in the market especially compared to Facebook and X which have become flooded with ai slop and bot spam. Financially the company also looks good overall with growing revenue and net income as well as very low debt. However, I’m still skeptical of this valuation by virtue of comparing to Meta. Even Meta only had a P/E in the 70-120 range in its first few years post-IPO with a highest post-IPO P/E of 118. It’s just hard to believe that Reddit has as much momentum as early Meta. What do you think? Is there factors I’m missing?