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

"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.

1.8 million daily US users is significant…

It’s not the main reason, which is why it was the second one listed. But it’s still substantial.

And the reddit investors wanted AI deals, because that’s about the only way to monetize Reddit.

If an AI company says they’ll pay money for data Reddit has, that would make Reddits stock price go up.

Like, what are you even talking about?