RDDT BASE CASE - $440 a share (rationale included)

My bear base case for Reddit is a market cap 75BB or approx $440 a share. Thought process is this platform should grow to at least 5% of metas current mkt cap of 1.5 trillion. I know that has a lot of different companies under it (what’s app, instagram etc) but I don’t think it’s hard to believe that 5% of their users will use Reddit in a meaningful way. Sprinkle some AI, great profit margins, and hopeful induction to s&p. $440 is my (hopefully) worst outcome. Would love to hear others thoughts!

This is not about should you or I buy the stock. This is long term thinking. Please no “buy the dip” comments. They’re irrelevant.

(I call it my bear case because I believe it will surpass that figure - I understand it is higher than it trading today)