posted in Technology

themachinestops@themachinestops@lemmy.dbzer0.com

Reddit stock tumbles the most on record as lack of new AI deals, US daily users metric disappoints

finance.yahoo.com/markets/article/reddit-stock-tumbles-the-most-on-record-as-lack-of-new-ai-deals-us-daily-users-metric-disappoints-153413759.html
Yahoo FinanceReddit stock tumbles the most on record as lack of new AI deals, US daily users metric disappointsReddit shares plunged the most on record on Friday after US daily users, lack of new AI deal announcements dissapointed investors.
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SirEDCaLot@SirEDCaLot@lemmy.today

Replying to @⁨themachinestops@lemmy.dbzer0.com⁩

If anything this shows how totally fucked equity markets are.

  • Predicted $732MM revenue, reported $805MM (10% higher than projected)
  • Expected 54MM DAU, got 53.2MM (1.5% lower than projected)
  • Expected daily users growth of 130.07MM, actual growth 130.3MM (0.2% higher than projected)

So they’re making way more money than expected, but they haven’t sold out their users fast enough so dump the stock?

SirEDCaLot@SirEDCaLot@lemmy.today

Replying to @⁨IzzyJ@lemmy.world⁩

I’m a big fan of employee owned companies and I think that should be encouraged.

At the same time, there IS a place for investors.

But all 3 factors of production (land, labor, capital) are supposed to have equal seats at the table. In recent years capital owns the table and chairs and decides when land and labor are allowed to speak, which is not what successful capitalism looks like.

en