Reddit’s 50% Plunge Fails to Entice Dip Buyers as Growth Slows
finance.yahoo.com
(Bloomberg) -- 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. Most Read from BloombergGold-Rush Fever Returns to Historic New Zealand Mining TownWhat Frank Lloyd Wright Learned From the DesertBank Regulators Fight for Desks as OCC Returns to New York TowerThese US Bridges Face High Risk of Catastrophic Ship StrikesCharter Schools, Colleges Push Muni Debt Distress Near RecordThe social

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.

  • commander@lemmy.worldEnglish
    4·
    3 days ago

    It’ll fall won’t be as dramatic as Digg but it will decline over time. Probably not have a major exodus event like Musk buying Twitter and renaming it and sending people to try BlueSky and Mastodon

  • Dearth@lemmy.worldEnglish
    41·
    3 days ago

    I was offered a chance to buy into reddit’s IPO. I knew it was a bad idea and I’m glad i didn’t

    • Regrettable_incident@lemmy.worldEnglish
      2·
      3 days ago

      Yeah, they messaged all my accounts asking if I wanted to buy in. I actually considered it for an instant, then thought nah, fuck that.

  • Cruxifux@feddit.nlEnglish
    65·
    3 days ago

    They’re permabanning everyomangionene who says anything good about Luigi Mangione, who is literally the greatest hero of the year in America, if not the decade. What did they think was going to happen?

  • DrFistington@lemmy.worldEnglish
    64·
    3 days ago

    Seems like putting your efforts behind censoring and banning your user base while simultaneously trying to give a pass to a facist oligarchy is a bad idea. That’s the thing about oligarchy, it’s a small club and if you weren’t already in it, you’re not going to be any time soon. Facebook and Xitter don’t want to share the money from ads and adversarial state\private actors

  • MehBlah@lemmy.worldEnglish
    6·
    3 days ago

    I started to short them last month. Oh well. I knew all this anti free speech stuff is hurting them. They are only retaining the sycophants and the clueless niche people who never go out of their little bubble.

  • surph_ninja@lemmy.worldEnglish
    38·
    2 days ago

    I’m fairly certain they misled investors on their last earnings call. I noticed some banned accounts suddenly had their ban lifted right before the call, and then reapplied right after.

    On the last investor call, they said they had a lot of returning users. This was after their election ban hammers, and prior to the Luigi ban fest.

    Can’t wait to see how they try to spin things on the next one.

  • ChristmasIslandZone@lemmy.worldEnglish
    9·
    2 days ago

    Got banned over there a month ago, came here hoping to find something of a Sonic community in the same vein as the one over there (very involved in that fanbase, did a lot of my discussion on reddit), has not materialized yet, not enough fans over here, hopefully that changes at some point. I thought at first that it was the open support of Luigi’s alleged actions that got me banned, I could be ok with that, I get it, supporting violence and whatnot, I broke the rules, and they were sensible rules more or less, but the longer I look at the current happenings over there, the more suspicious I am that it was because his name came up at ALL, multiple times. That’s annoying. That feels less justified.

    Also becoming more and more glad it happened when it did. Lot of overt, fascist appeasing censorship going on over there. Like it’s not even subtle. There’s no ambiguity in it, it’s just “this post criticized or disparaged Musk or Trump in some way. (Removed from Reddit).”