Summary

Reddit shares have dropped 50% from their February peak, when the stock had soared over 500% from its $34 IPO price last March.

Much of the early enthusiasm came from AI-related deals allowing Reddit’s content to be used for training models, but recent doubts about long-term growth in the AI sector have dimmed that optimism.

Analysts remain skeptical and some call the stock “super overvalued,” noting Reddit still is not making any money.

Market uncertainty and early investor sell-offs continue to weigh on Reddit and the broader tech sector.

Non-paywall link

  • lythium@lemm.ee
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    2 days ago

    Thanks! I came from Reddit too. Looking for a safer place to stay in touch with the community. Are we allowed to say the name of Mario’s brother here?

      • Monstrosity@lemm.ee
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        1 day ago

        Just keep in mind, “it’s called the Fediverse because it’s crawling with Feds.”

        Don’t get stupid.

    • exixx@lemmy.world
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      2 days ago

      You can not only say Luigi, but you can also say that you wished it had started a trend.

    • cynar@lemmy.world
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      2 days ago

      The basic rule is that you can say what you want (and people can call you what they want for it!).

      It would be polite to self moderate to an extent. No point getting the instance owners in to legal hot water. That’s a massively higher bar than Reddit has set however. Chatting about and admiring Luigi is completely fine.