Coatue Management Invests in Reddit
This is a news story, published by Yahoo Finance, that relates primarily to Coatue Management news.
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Business & Economics
Whale Watch: Reddit has nearly tripled in recent months, and one major hedge fund made a $1 billion bet last quarter as it soared
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Coatue Management revealed a $1 billion Reddit stake as of the fourth quarter .
The hedge fund's stake made up about 3.6% of Coatue 's $59 billion portfolio of publicly traded stocks.
Reddit stock has been on a tear since October amid solid earnings.
Coatue also revealed a reduction in Chinese stocks and new positions in tech names.
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