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?

kestrel7_7@kestrel7_7@lemmy.world

Replying to @⁨TheHound@lemmy.world⁩

The current system has folks raising cap-ex by selling bits of control in their company, but this is a thread about how that system has failed to both expand capacity and increase the utility of reddit. So. IDK, they could raise money with bonds or grants or something. It doesn’t really matter too much because the current system simply doesn’t work in practice either.