Looking for a long play? ... buy RDDT!

Having navigated the markets and various tech cycles for a long time, I want to briefly share my main investment arguments for why I am currently buying Reddit. Reddit has proven in recent years that it is not just a forum for meme stocks, but a highly profitable company. Strong revenue growth (+69% year over year) High free cash flow ($311 million) Value of data for AI training……The gross margin of 91.5% is absurdly high. While this margin is primarily driven by their core advertising business, a smaller but highly lucrative portion comes from AI deals. …..Both result from a simple and brilliant concept: The users generate niche specific content completely for free. Reddit licenses these massive amounts of text data to developers of LLMs every new licensing dollar flows almost unfiltered into the balance sheet as profit….the unique role…..in a time when AI content is increasingly being consumed, the desire for genuine human communication is rising again. (I personally strongly believe in it) Through an almost monopolistic position in this area of anonymous communication, a major growth driver… moat…..this is the intrinsic value of Reddit !..thereby also for advertisers, …….which results in higher advertising revenue. The risk is that AI licensing revenue declines, …..but the need for human communication should compensate for this. What makes the story particularly interesting to me is that Reddit's valuation still appears reasonable relative to its growth profile. While the stock is no longer cheap by traditional metrics, revenue growth of 70% and expanding profitability suggest that the market may still be underestimating the long term (next 5x years) monetization potential of both advertising and AI data licensing. If Reddit can sustain strong double digit growth for several more years, today's valuation could look much more attractive in hindsight. Would you add the stock to your portfolio, considering we are all sitting right at the source here, producing the data that makes the company so profitable? Edit: The potential inclusion in the S&P 500 could also serve as an additional driver