Bloomberg - Are you a robot?
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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

      • carrion0409@lemm.ee
        0·
        19 days ago

        God I hope you’re right. Nazi Spez and his chud admins are gonna be shitting bricks when they realize elon isn’t bailing them out.

        • phdepressed@sh.itjust.works
          0·
          19 days ago

          Elon just sold Twitter to xAI for 33B, Reddit bastards can probably do similar. Some dumbfuck at Google or Microsoft will probably buy it.

            • rice@lemmy.orgEnglish
              0·
              19 days ago

              plenty of news about it. but it is just elon giving his company to another company. Like facebook to meta or google to alphabet.

              The funniest thing about it is, he valued twitter at 3/4th of what he bought it for.

          • LimeZest@discuss.tchncs.de
            0·
            19 days ago

            xAI is Elon’s AI company. I don’t think the value at which he is willing to sell his one company to his other company applies much to anything outside of Musk’s companies.

      • abbadon420@lemm.ee
        0·
        19 days ago

        We said the same thing about Facebook 15 years ago. Look at them now. Still twitching proudly with the vigour of youth while their teeth are falling out and their flesh is rotting.

    • Apple87sagan@lemmy.worldEnglish
      0·
      19 days ago

      Bye bye…officially deleted my reddit account. Enough interaction on here I can 100% make the plunge now. Sad because I have been there so long. But I rememeber when digg died, and its time to move on.

      • foggy@lemmy.world
        0·
        19 days ago

        I was there for diggs death. I was a young college student.

        I held off on Reddit and enjoyed a lack of that style of addiction for like 2 years. Then slowly reddit consumed me.

        I haven’t been back for anything but porn since the API-pocalypse.

          • foggy@lemmy.world
            0·
            19 days ago

            It’s getting better. Not nearly as much content but also not nearly as much only fans click bait.

            So it’s ok, but reddits quantity has Lemmy’s quality beaten.