Reddit Stock Breaks Above $200 as AI Data Licensing Drives Bullish Re-Rating

According to CNBC, Reddit is being re-rated from a hard-to-value social platform into a key AI data infrastructure play, with the stock recently breaking above the $200 level. The company is successfully running two engines: an advertising business that grew 74% year over year to $625 million in Q1, and a content-licensing business with agreements with Google and OpenAI collectively worth more than $200 million annually. Adjusted EBITDA grew 131% on revenue up 69%, producing a 40% EBITDA margin against a 91% gross margin. Daily active uniques reached 126.8 million, up 17%, while global ARPU rose 44% to $5.23. The Street rates RDDT a Buy with an average target in the $230 to $236 range and a high end above $300. The stock's breakout above $200 on strong relative strength and volume has turned that level into a key support zone, with upside targets at $227, $260, and the prior 52-week high near $283.