The gloomy sentiment around Reddit Inc. has failed to dissipate after its shares fell 50% from a February high, with volatile technology stocks under pressure.
The social media platform has struggled to recover since an earnings report in February showed that it is failing to keep up with larger digital advertising peers such as Meta Platforms Inc. and Alphabet Inc.’s Google. Reddit’s outlook seemed precarious because its traffic took a hit from a change in Google’s search algorithm.
In recent weeks, the short interest in Reddit — a proxy for the volume of bets against the company — has ticked up, and forecasts for the company’s share price have fallen. One analyst opened coverage of Reddit this month with a recommendation that investors sell the shares, in part due to the company’s heavy reliance on Google.
“It’s been super overvalued,” Bob Lang, founder and chief options analyst at Explosive Options said of Reddit shares. “Their growth rate is very strong, but they still are not making any money”
Maybe they should stop mass banning people for opposing genocide? Just a thought.
Stock growth, not user growth. Valuations are all made up, and the oligarchs are orchestrating for tech stock values to plummet so they can go shopping for user data, cheap employees, and tech stacks. (In that order)
Hey, don’t get radicalized over here. /s
They’re worried about advertising growth, not user growth. If anything this will make them more likely to ban users as they try to make the site more acceptable to advertisers.
It’s almost like the ones most interested in the stock were the users…
Once it all turns to AI slop, the AI can buy the stock
I have visited reddit only a small number of times since I left. But holy shit it’s unbearable now. AI answers everywhere. What’s the point?
The nsfw content, mostly.
Yeah, I only have my porn account left at this point.
Yeah I’m only still lurking there for the porn, and frankly, lemmynswf is getting better! Still not enough thirsty gooners to really support a diverse biosphere of onlyfans models, instasluts, and tiktok thots, but growing all the time. Also has the problem most of Lemmy does that like 4 posters are responsible for 95% of the content.
https://lemmynsfw.com/ aims to provide NSFW content and often it’s mirrored from Reddit.
Oh noez, poor spez. He can eat my ass to feel better.
Reddit is censoring at musks request
The Reddit we once knew is very dead
That shit died long ago
Universally uninstalled, account deleted.
“I’m doing my part”
Would you like to know more?
Might be time to watch SST again ;)
I watched it once at my college roommate’s behest and somehow didn’t understand that it was satire, which made it something of a frustrating slog. I expect I’d like it a lot more on rewatch. He gave me all sorts of shit afterward for not understanding what the hell I was watching.
I’m not surprised. Spez killed two good methods of generating revenue while maintaining a staff that is probably too large and not creating products that generate revenue.