- cross-posted to:
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- cross-posted to:
- [email protected]
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.
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.
Elon just sold Twitter to xAI for 33B, Reddit bastards can probably do similar. Some dumbfuck at Google or Microsoft will probably buy it.
Link to this? There hasn’t been anything in the news about such a sale.
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.
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.
In fact him selling it to himself shows the price is probably inflated