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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mfed1122@mfed1122@discuss.tchncs.de

Replying to @⁨themachinestops@lemmy.dbzer0.com⁩

"What’s behind the move: The user discussion platform company’s latest earnings report did not announce any new artificial intelligence data licensing agreements, disappointing investors who were expecting more revenue opportunities from AI partnerships.

Revenue of $804.9 million beat estimates of $731.8 million. However, US daily active users came in at 53.2 million, just shy of expectations of 54 million. The company’s total daily active users grew by 18% to 130.3 million versus estimates of 130.07 million. "

Lmao. 53.2 vs 54, and the headline says that’s why it’s tumbling? Nah, it’s gotta be just the AI. I bet most of the reddit investors were also invested in AI stock and wanted to use reddit to pump the others. Hilarious. The entire value of Reddit is human UGC.

Tollana1234567@Tollana1234567@lemmy.today

Replying to @⁨mfed1122@discuss.tchncs.de⁩

and that 130million users arnt real people either. at least of half of them are propa bots, or bots used by people to drive traffic to thier own “business/marketing” sites, 1 person or an agency can use hundreds if not thousands of accounts at a time, something reddit most targets for bans, and is why they are aggressive with it, and yes they sorta ignore propaganda ones.

en