- cross-posted to:
- reddit@lemmy.world
- cross-posted to:
- reddit@lemmy.world
Summary
Reddit shares have dropped 50% from their February peak, when the stock had soared over 500% from its $34 IPO price last March.
Much of the early enthusiasm came from AI-related deals allowing Reddit’s content to be used for training models, but recent doubts about long-term growth in the AI sector have dimmed that optimism.
Analysts remain skeptical and some call the stock “super overvalued,” noting Reddit still is not making any money.
Market uncertainty and early investor sell-offs continue to weigh on Reddit and the broader tech sector.
That is a deep cut reference. They are relaunching as an AI play.
That will bring back the people who were providing the free content.
(/s on the last part)
Seriously. I remember Digg. My life’s social media path has been slashdot->digg->reddit->lemmy.
I was there! I saw it all! <shakes cane>